This morning in metals news: U.S. Steel offered a bullish view of the steel market in its first-quarter guidance; the Chinese steelmaking city of Tangshan is moving to tackle pollution; and the tin price has bounced back up over the last two weeks. Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis […]
Tag: steel price
Raw Steels MMI: As steel price gains slow, could a peak be near?
The Raw Steels Monthly Metals Index (MMI) ticked up 2.0% for this month’s index reading, as the pace of steel price rises has started to slow. Steel price gains appear to slow Steel price rises have continued, much to the chagrin of buyers battling for hard-to-get supply. However, the pace of the price gains has started […]
China’s steel industry facing increasing environmental constraints
Many areas, industries (including the China steel sector) and, indeed, societies are under threat from pollution. In many emerging markets, economic growth has come at the stark price of appalling levels of pollution. But the Financial Times suggested that in China, home of the largest steel and aluminum industries in the world by far, steel […]
Construction MMI: Construction spending rises as billings remain down
The Construction Monthly Metals Index (MMI) rose by 3.2% this month, as January 2021 construction spending picked up. Cut-to-length adders. Width and gauge adders. Coatings. Feel confident in knowing what you should be paying for metal with MetalMiner should-cost models. Construction spending US construction spending in January reached a seasonally adjusted annual rate of $1,521.5 […]
US steel capacity utilization ticks up to 77.2%
US steel mills churned out metal at a steel capacity utilization rate of 77.2% for the week ending Feb. 27, the American Iron and Steel Institute (AISI) reported. See why technical analysis is a superior forecasting methodology over fundamental analysis and why it matters for your steel buy. Steel capacity utilization gains Last week’s rate […]
This Morning in Metals: Arconic reports 14% revenue decline, led by aerospace weakness
This morning in metals news: Arconic reported its fourth quarter and full-year 2020 financial results; meanwhile, the Census Bureau reported steel import totals; and, finally, hot rolled coil steel prices continue to rise. Arconic reports Q4, 2020 financial results Pittsburgh-based Arconic reported Q4 2020 revenues of $1.5 billion, up 3% from the previous quarter. However, […]
US steel capacity utilization rises to 77.0%, steel prices continue to rise
The US steel sector capacity utilization rate ticked up to 77.0% for the week ending Feb. 20, the American Iron and Steel Institute (AISI) reported. Steel capacity utilization gains US steel production during the week ending Feb. 20 totaled 1.75 million net tons, AISI reported. The total marked a 7.2% year-over-year decline. Furthermore, the weekly […]
Investment banks signal possible start of a commodities super cycle
Investment banks love a super cycle. It spurs irrational investment and sucks in unwary investors. Furthermore, it encourages passive funds to up their allocation, even if only by fractions of a percent. But with some $14 trillion invested in US equities alone, even a modest increase in passive investments into ETFs would reap significant rewards […]
Nucor forecasts Q1 2021 net earnings to best 2008 record
While the first half of 2020 posed significant challenges for metals manufacturers and end users alike, some firms have showed signs of recovery in the ensuing months and into 2021. In the second quarter, steel demand suffered. Automotive manufacturers idled production in North America for a period of about two months last year, beginning in […]
Raw Steels MMI: Section 232 steel tariff upheld after challenge from steel importers
The Raw Steels Monthly Metals Index (MMI) increased for the ninth consecutive month, rising by 0.5% as US steel prices continued to rise. Buying organizations should continue to buy as needed, as prices remain at all-time highs. Cut-to-length adders. Width and gauge adders. Coatings. Feel confident in knowing what you should be paying for metal […]
