In an April 2 announcement, steel industry leader British Steel stated that the Redcar and Cleveland Borough Council recently approved new equipment following a detailed consultation on its decarbonization project. British Steel originally announced its plans to replace the furnaces at Scunthorpe and Teesside in September under plans that would see the steelmaker cut its […]
Category: Manufacturing
ThyssenKrupp Responds to Market Turbulence with Bold Production Cuts
Germany flats producer ThyssenKrupp Steel (TKS) recently announced plans to cut its production capacity by an average of 19.5%, citing current market conditions as the main reason. Indeed, the European steel industry continues to face a wide range of challenges, including economic challenges and surging energy costs. “The aim is to make ThyssenKrupp Steel fit […]
Will the Taiwan Earthquake Impact Semiconductor Production?
Reports indicate that the earthquake that struck Taiwan on April 2 is unlikely to create either supply or manufacturing difficulties for Taiwan semiconductors (microchips), which could subsequently impact the auto sector and steel prices. “I haven’t heard about any impact on the industry due to the earthquake,” one steel trader told MetalMiner. The seismic incident registered 7.2 on […]
Tata Steel Workers to Strike Against Port Talbot Blast Furnace Closures
Tata Steel workers associated with the Unite Trade Union at Port Talbot recently voted to strike over plans to replace the site’s two blast furnaces with electric arc furnaces. The decision immediately led to discussions about the near and long-term future of the UK steel industry as well as Tata’s production capabilities. “Around 1,500 Tata […]
Raw Steels MMI: Steel Prices Flatten, Is an Uptrend Next?
The Raw Steels Monthly Metals Index (MMI) moved sideways, with a modest 1.38% decline in steel prices from March to April. U.S. flat rolled steel prices continued to trade down throughout March. Meanwhile, HRC prices fell 8.35% to close the month at a new lower low. However, hot rolled coil prices traded up during the […]
Liberty Steel’s Ambitious Expansion Strategy Revealed: Hiking Capacity at Rotherham Plant
Liberty Steel recently announced a restructuring plan for its operations in the United Kingdom after signing a new framework agreement with creditors. Among other things, the ambitious plan includes hiking crude steel manufacturing capacity at its Rotherham plant. The London-based company noted that the plan would see Liberty consolidate all its operations in the UK […]
Rare Earths MMI: Have Rare Earth Prices Finally Found a Bottom?
Month over month, rare earth metals witnessed new price lows not seen since September 2020. While neodymium oxide and praseodymium oxide witnessed the sharpest drop out of all of the components of the Rare Earths MMI (Monthly Metals Index), the index fell by 5.08% overall. But with price points nearing pre-pandemic lows, the index may […]
Australia’s Biggest Challenges Lie Ahead for Iron Ore Production
Australia’s iron ore industry faces a major challenge, and if the country does not take corrective course action soon, it risks losing its position as the largest exporter of iron ore. This would have a significant impact on the nation’s industry, and its ability to affect the iron ore price. The challenge is the “changing […]
Liberty Pipes Hartlepool Chosen for £4 Billion Energy Infrastructure Deal
Liberty Steel recently won a contract to supply pipelines from its Hartlepool steel manufacturing site in the United Kingdom for energy infrastructure and carbon-capture projects. Liberty’s parent company, GFG Alliance, said in a March 15 statement that Liberty Pipes Hartlepool (LPH), located in northeast England, will supply onshore and offshore pipes to the Northern Endurance […]
Experts Predict Nickel Prices Will Continue to Drop in 2024
Will there be a rebound in Chinese nickel purchases in 2024? Furthermore, will it serve to bolster the market in the near term? Following a lengthy period of de-stocking last year, these are just some of the questions with implications for the global nickel price. As the world moves toward cleaner energy sources, certain minerals […]
