The Construction Monthly Metals Index (MMI) moved up one point to to 83, up from 82 the previous month. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook U.S. Construction Spending According to the U.S. Census Bureau’s monthly construction spending report, U.S. spending in February reached $1,320.3 billion, up 1.1% from […]
Tag: L1
China’s Renminbi is Unlikely to Threaten the Dollar — For Now
A few years ago it was not uncommon to hear pundits calling the end of the dollar’s supremacy, the decline of the greenback’s position as the world’s reserve currency. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Those pundits predicted the dollar would eventually be overtaken by a rising China — […]
Automakers Face Headwinds in Rapidly Changing Automotive Marketplace
We are used to dire stories emanating from the automotive industry in Europe of late. The swing from diesel engines has hit European producers hard, as the region had been heavily biased toward the economical but historically carbon particulate polluting oil burners. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook […]
Global Trade May Be Slowing, but Costs Continue to Rise
Sea freight has to be one of the most cost-effective means of transporting goods over long distances ever invented. Even with increasing ocean freight rates, it is often the case it costs as much to ship from Calcutta to London as it does to then clear and haul the container from London to the industrial […]
EUROFER: Extend Mandate for Global Forum on Steel Excess Capacity
The mandate for the Global Forum on Steel Excess Capacity (GFSEC), an organization that has come in for criticism from the U.S., expires in November. However, the European Steel Association (EUROFER) argues the forum, which has focused on creating policies to tackle global excess capacity, should have its mandate extended. Need buying strategies for steel? Request your […]
Global Crude Steel Production Rises 4.1% Year Over Year in February
Global crude steel production increased 4.1% in February compared with February 2018 production, according to the World Steel Association’s monthly production report. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook China’s Steel Production Growth Continues Global production hit 137.3 million tons in February, down from 150.3 million tons in January. […]
U.S. Housing Starts Cool, Falling 8.7% in February
The U.S. Census Bureau and Department of Housing and Urban Development on Tuesday released data on February housing construction, revealing the month was a particularly slow one for new construction. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook According to the joint report, February housing starts reached a seasonally adjusted […]
Indian Steelmakers Grapple with Sanctions-Diverted Iranian Steel
As if cheap steel imports from the Association of Southeast Asian Nations (ASEAN) was not enough of a problem to handle, India’s steelmakers are now fretting over heavily discounted steel imports coming in from Iran, a country that is under economic sanctions imposed by the United States. Need buying strategies for steel? Request your two-month […]
E.U., U.K. are Facing the Prospect of a No-Deal Brexit
Observers outside the U.K. have probably viewed the Brexit process with a generally sanguine approach, assuming that the mother of all parliaments would come — in that most British of traditions — to some kind of pragmatic solution to the wide disparity of views and positions following the 2016 referendum in which the country voted […]
Looking Ahead, Part 2: With Steel, What Happens in China Doesn’t Stay in China
[Editor’s Note: This is the second of a two-part series on steel supply and prices. Revisit Part 1 here.] Actual Chinese Steel Prices Looking at longer-term trends in Chinese steel prices, we can see after hitting a low during mid-to-late 2015, prices trended upward overall (with some ups and downs along the way). For example, […]
