The Raw Steel Monthly Metals Index (MMI) dropped 1.2% this month, down to an index reading of 80. Weakness in the index once again came from U.S. domestic steel prices. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook U.S. prices showed weakness of late with HRC, CRC, HDG and plate […]
Tag: steel price
This Morning in Metals: Republic of Congo Makes First Iron Ore Shipment
This morning in metals news, the Republic of Congo made its first export of iron ore, Korean steelmaker POSCO says elevated iron ore prices will put a damper on steel margins this year and global aluminum production in March hit 5.4 million metric tons. Need buying strategies for steel? Request your two-month free trial of […]
Indian Steel Exports to U.S. Plummet as Aluminum Exports Surge
Amidst the trade tension that exists between the United States and India, now comes a report that India’s steel exports to the U.S. last year fell by a whopping 49%. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook On the other hand, exports of Indian aluminum went up by 58%. […]
Can the Chinese Government Keep Steel Production in Check in 2019?
The Chinese government frequently mandates steel production cuts, especially for environmental reasons. But the cuts have also aimed to cut production volume in support of maintaining higher steel prices and, therefore, a healthier domestic industry. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook A recent goal of cutting 150 million […]
Raw Steels MMI: Subindex Dips on Mixed Price Movements
The Raw Steels Monthly Metals Index (MMI) fell by one point this month to 81, a 1.2% decline from the previous month’s MMI value. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Price weakness in the index came from the U.S. HRC 3-month futures contract, with a 6.3% decline in price […]
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, […]
U.S. Steel Production Through March 16 Up 6.7% Year Over Year
U.S. steel mills produced 1.93 million net tons of raw steel during the week ending March 16, according to the American Iron and Steel Institute (AISI). Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Production for the week — which came at a capacity utilization rate of 82.9% — was […]
Looking Ahead, Part 1: A Surprising Outlook for Steel Prices in 2020
According to Bank of America Research Analyst Timna Tanners, Steelmageddon looms on the horizon due to massive planned capacity increases in the U.S. steel industry. Her analysis indicates the equivalent of around a 20% capacity increase when aggregating investments across companies and production methodologies over the next few years. Due to the massive ramp-up, the Steelmageddon theory […]
This Morning in Metals: Canada Announces $100M in Funding for Steel, Aluminum Industries
This morning in metals news, the Canadian government announced it is rolling out $100 million in funding for its domestic steel and aluminum industries, copper moves toward a seven-month high, and Vietnam’s steel exports to the U.S. increased in 2018. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Canadian Steel, […]
Global Crude Steel Production Rises 1% Year Over Year in January
Global crude steel production growth slowed in January, hitting its lowest level since August. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook According to the World Steel Association, global crude steel production rose 1.0% year over year in January, down from 3.8% growth in December. Global steel production in January […]
