Northwest Indiana serves as the home of some of the largest steel mills in the United States. It also happens to be the new home of MetalMiner. Heavy industry dominates the local economy, juxtaposed with the Dunes (now known as the 61st National Park) and Lake Michigan. It’s also home to the 1st Congressional district […]
Category: Industry News
Steel Manufacturing Shutters While Prices Drop
Hot rolled coil prices in Northern Europe declined further the past week due to low demand in steel manufacturing. According to sources, this was due partly to higher costs and uncertain economic outlooks. “There is too much pressure from imports, and stock levels are too high,” one trader told MetalMiner when asked about the declining […]
Chinese Stimuli and the Impact on Steel and Iron Ore Prices
A few days ago, China’s State Council announced more stimulus policies. The new measures included an additional 300 billion yuan ($44 billion) in quotas for infrastructure spending and investments by banks. This was in addition to the 300 billion yuan announced in June-end. However, looking at everything happening with steel and iron ore prices, the […]
Renewables & GOES MMI – Power Generation Problems Limit Energy Resources
The September Renewables MMI (Monthly MetalMiner Index) dropped by 6.3%. Like previous months, energy limitations was the biggest factor in the drop as high temperatures and limited energy resources strain power generation systems around the globe. Power Generation and the “Green Bottleneck” At the end of August, President Biden officially signed the Inflation Reduction Act […]
China’s Steel Supply Encounters Significant Hurdles.
Everyone thought a COVID-19 ravaged steel supply market in China took a turn towards recovery. However, many other hurdles now stand in the way, both long & short term. Power cuts and muted demand driven by the construction crisis in China stand in the path of growth. Even worse, the cascading effect has affected the […]
UPI Closure to Have Limited Impact on Steel Prices
USS-Posco Industries (UPI) to close, sell plant in 2023 or 2024 The Pittsburg, CA based finished steel producer USS-Posco Industries (UPI) will close its doors in 2023. UPI manufactures hot rolled pickled and oiled, cold rolled coil, hot dipped galvanized and tin plate. Although unconfirmed, the facility was reportedly purchased by Amazon for use as […]
