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 […]
Category: Manufacturing
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 […]
Trade Union Eyes Strike Ballot at Port Talbot
The latest steel news and sources from the UK indicates that the Community trade union plans to ballot its members at Tata Steel for strike action. The move comes amid plans by the company to replace two blast furnaces at the Port Talbot site with electric arc furnaces. “Community representatives from all Tata Steel UK […]
Aluminum MMI: Aluminum Prices Rise As China Output Slows
Aluminum prices remain entrenched within a sideways trend. Following a 2.78% month-over-month decline in February, prices retraced throughout the first three weeks of March to where they currently stand: 2.17% above their February close. Overall, the Aluminum Monthly Metals Index (MMI) moved sideways, with a 2.36% decline from February to March. AI vastly improves your […]
Copper MMI: Copper Prices Rise to Highest Level Since April Amid Supply Concern
By mid-March, copper prices hit their highest level since April 2023. Prices previously found a bottom in early February before strong upside momentum saw them topple previous peaks within their long-term sideways trend. While prices clocked a moderate1.74% month-over-month decline throughout February, they rose 4.12% during the first two weeks of March. Overall, the Copper […]
JSW Steel Aiding Italy’s Steel Industry with €140 Million Investment
One of India’s fastest-growing steel companies JSW Steel, recently announced the next step in its growth plan. In a major steel news event, JSW Steel Italy SRL inked a memorandum of understanding (MoU) with the Italian government to re-start production operations at the Piombino plant via a €140 million investment. According to JSW Steel, the […]
Construction MMI: Potential Manufacturing Boom Could Impact Steel Prices
Month-over-month, the index experienced little movement. Overall, the Construction MMI (Monthly Metals Index) moved sideways, inching down just 1.2%. Steel prices moving downward placed some bearish pressure on the index. However, several significant factors continue to press on construction from both a bearish and bullish standpoint, including the Fed holding off on adjusting interest rates, […]
