The Aluminum Monthly Metals Index (MMI) continued to drop, with a 5.14% decline from July to August. The price of aluminum continued to deflate before finding a bottom at the close of July. Overall, aluminum prices witnessed a 9.07% decline throughout the month, followed by a modest 2.26% rise during the first half of August. […]
Category: Manufacturing
Construction MMI: US Manufacturing Boom or US Manufacturing Recession?
The Construction MMI (Monthly Metals Index) finally broke free of its year-long sideways trend, but only slightly. All in all, price action moved down by 3.52%, adding to questions about the state of US manufacturing. Iron ore, h-beam, and steel rebar prices dropping were the main components driving the index down. In general, numerous factors […]
Liberty Steel Flats Producer in Dunaújváros Planning on Targeting Automotive and Defense Sector
According to Liberty’s Steel’s parent company, GFG Alliance, the steel industry leader’s flats producer at Dunaújváros plans to target the automotive and defense sectors. This shift will occur upon the commissioning of two electric arc furnaces, which will replace the two blast furnaces currently occupying the Hungarian site. A source at the company told MetalMiner […]
Ukrainian Steel Surge: Production Soars by One-Third in 2024
For the first half of 2024, Ukrainian steel manufacturing increased finished and semi-finished production by about one-third year on year. According to a July 15 report from Kyiv-based steelmaking association Ukrmetallurgprom, volumes for the first six months came to 3.14 million metric tons, representing a 32% rise from an estimated 2.37 million metric tons. The […]
Copper Shortage Fears Ignite Once Again as Global Demand Projected to Skyrocket
By now, the world knows that although the current global copper reserves are sufficient to meet demand, extraction continues to lag behind consumption. As a result, many inside and outside the copper market fear there will be a shortage in the coming years. Predictions say that the annual global demand for copper will increase by […]
£2.5 Billion Funding Secured for Tata Steel’s Port Talbot Electric Arc Furnaces
According to an official with the country’s new government, an additional £2.5 billion ($3.2 billion) will be made available for the UK steel manufacturing sector. This is in addition to the amount the government has already pledged for new furnaces at Tata Steel’s Port Talbot site. “There is a better deal available for Port Talbot […]
Zimbabwe’s $1.5 Billion Steel Plant Roars to Life
Zimbabwe’s got itself a brand new iron and steel manufacturing plant, courtesy of the Chinese. This U.S. $1.5 billion Chinese-built plant’s blast furnace recently came online and is already producing pig iron, a crucial ingredient for making steel. The team over at Dinson Iron and Steel Company (Disco), the Zimbabwean subsidiary of Chinese steel giant […]
Liberty Steel Ostrava’s Conundrum: a Plunge into Insolvency
Liberty Steel Ostrava, a steel manufacturing plant in the Czech Republic, recently entered an insolvency process. This comes after its parent company, GFG Alliance, put the plant up for sale and filed for judicial reorganization in mid-June. A source within GFG Alliance told MetalMiner that a regional court in Ostrava, which lies in the eastern […]
Battle for Steel Supremacy: India vs. China in the Global Steel Trade
With a new government in place following the recent general elections, Indian steel manufacturing firms are again clamoring for the imposition of more import duties and other measures to curb cheap steel imports from China. India ended up being a net importer of steel during the April-March 2024 period. According to provisional government data, this […]
China’s Economic Recovery Stumbles: Industrial Output Disappoints
Clearly, China’s economy is not yet back on the recovery track, as evidenced by the mixed bag of data for May released on Monday. According to data from the National Bureau of Statistics (NBS), industrial production in China saw a 5.6% increase in May 2024 compared to May 2023. However, overall production was also down […]
