Difficult market conditions have prompted Romanian steel industry leader ArcelorMittal Hunedoara to reduce production until year’s end. According to a notice provided to the Bucharest Stock Exchange, the longs producer’s board of directors decided to reduce production from December 9-31 and pay 75% of salaries to employees impacted by the steps. The December 6 notice also […]
Category: Manufacturing
Raw Steels MMI: Steel Prices Hold Steady Ahead of 2025
The Raw Steels Monthly Metals Index (MMI) steel prices for the month remained consolidated, with a modest 1.78% decline from November to December. Mills Keep a Lid on Production, Steel Prices After a disappointing Q3 for U.S. flat rolled steel prices, mills appeared to take capacity discipline seriously in the final months of 2024. The […]
Saudi Arabia: The Kingdom of Oil. However, is It Now the Kingdom of Metals?
With the growing imperative of a global clean energy transition, many nations face deficits in reserves of mineral resources. In response to this, a significant number of them are turning their focus to the African continent, but that’s old news. For the last year or so, Saudi Arabia has taken major steps beyond its traditional […]
Coking Coal’s Rollercoaster Ride: What 2024 Taught Us About Steelmaking’s Essential Ingredient
The story of coking coal in 2024, especially its price in global markets, has mainly been “one step forward and one step back.” A raw material essential for steel production, coking coal prices have been under pressure in the last half of 2024 due to sluggish growth in global steel output. Like other raw materials, […]
British Steel’s £10M Rail Facility: British Steel’s Corrosion-Protected Rails
British Steel has opened a rail stocking facility at its main works in Scunthorpe, in Lincolnshire, where the company produces rails. The £10 million ($12.6 million) facility will be able to hold up 25,000 metric tons of finished rails in 108-metre lengths, the Jingye-owned company stated on November 20. “All rails stocked will have undergone […]
British Steel Secures Resources to Keep Scunthorpe Thriving Through 2025
Steel news outlets recently discovered that longs and semis producer British Steel recently acquired natural resources to sustain production at its Scunthorpe plant through 2025. “At the same time, we remain in active discussions with the government, working together to ensure British Steel continues to play a vital role in meeting the UK’s infrastructure needs,” the […]
Automotive MMI: Automotive Industry Could Face Headwinds from Germany and Incoming Tariffs
The November Automotive MMI (Monthly Metals Index) found slightly more upward momentum than the prior month. While the index remained sideways, price action rose by 2.33%. That said, the US automotive market could witness headwinds from a combination of factors. First, Donald Trump`s win in the US election could mean incoming tariffs that will impact […]
Raw Steels MMI: Steel Prices Hold Sideways Following Bearish Q3
The Raw Steels Monthly Metals Index (MMI) remained sideways with a slight upside bias, showing a modest 1.44% increase from October to November. U.S. flat rolled steel prices mostly moved sideways during October. HRC prices edged lower, with a 1.29% decline, while CRC prices rose by a mere 0.95%. HDG prices skipped the sideways trend […]
Myanmar’s Rare Earth Mines Seized by Rebels, Setting Stage for Global Price Spikes
“People are running around the world looking for rare earth elements.” This one sentence in the South China Morning Post, quoting James Chin, Professor of Asian Studies at the University of Tasmania, sums up the current rare earths situation well. Chin’s comment is even more true following the recent supply disruptions in Myanmar, which caused […]
Rare Earths MMI: Market Unstable With Multiple Supply Chain Disruptions. Are the Bulls Coming?
The Rare Earths MMI (Monthly Metals Index) saw its upward price action slow as prices experienced only a slight uptick of 0.38%. While upward price action for rare earths did lose steam month-over-month, prices could soon witness another bullish boost. Not only did China’s rare earth export ban go into effect as of October 1, […]
