The Construction MMI dropped by 9.41% from May into June. The decline comes amid growing optimism about the state of the industry. Even so, talk of recession continues to cast a shadow over the post-COVID economy. U.S. Construction Market Expected to Grow 3% by 2026 Despite the doom and gloom recession talk going on, […]
Tag: steel price
Raw Steels MMI: Steel prices continue to drop
U.S. steel prices continue to retreat. After consistent week-over-week declines, HRC prices now sit more than 15% beneath their late-April peak while plate prices continue to trade sideways as they remain just 6% beneath their all-time high. The Raw Steels Monthly Metals Index (MMI) fell by 7.87% from May to June. Know what to do […]
EU to Take in Ukrainian Steel With New Tariff Adjustments
NOTE: This story was updated on 6.7.22 The European Commission (EC) has extended its existing safeguard tariffs on steel to June 30, 2024, but with some adjustments. In a letter to the WTO, the executive body for the 27-member group said the annual rate of liberalization is due to increase from 3% to 4% as […]
European Gas Impact on Steel Prices
Steel prices and gas are the primary topics of conversation today. It seems that steel traders in China are seeking more buyers abroad for their finished steel products. Meanwhile, Russia is mulling cutting gas supplies to the EU. Gas prices have an enormous impact on steel prices. China: Lockdowns at Home, Low Demand Abroad The […]
Raw Steels MMI: Steel Prices Fall As Demand Concerns Mount
The ascent for U.S. steel prices faltered as HRC, CRC, and HDG prices began to fall in early May. Plate prices also took a big dip. All in all, the Raw Steels Monthly Metals Index (MMI) fell by 8.9% from April to May. Know what to do when the market shifts. Related article: The […]
Automotive MMI: Auto Sector Remains Constrained
The Automotive MMI (Monthly Metals Index) held flat from April to May. This was largely the result of a number of factors working in concert. Below, we’ll dig deeper into the automotive marketplace to see if we can determine what to expect for the rest of 2022. Automotive MMI: China Auto Sales, Production Plunge In […]
The Future of Steel Supply: The Facts Thus Far
It’s first-year economics: everything comes down to supply and demand. Historically, the push and pull between these two massive market forces are cyclical, and that includes steel. When you have more demand than supply, prices go up. Eventually, the prices get so high that people stop buying. After a while, the steel supply builds up, […]
Steel prices slipping in Europe
Steel prices for hot rolled coil in Europe have started to decline as end users push back from earlier offers. Meanwhile, benchmark iron ore prices in China dropped, due to the country’s zero-Covid policy. One analyst noted that steelmakers in Europe are cutting back their production. “Steel would get a bit of support from production […]
Two Ukraine Steel Mills Set to Restart Production
At least two Ukraine steel manufacturers are ready to restart production amid the ongoing conflict with Russia. Sources indicate this is because the areas where the mills are located have seen less impact from the invasion, according to MarketWatch.com. Global investors greeted the announcement with much fanfare. After all, the renewed export of Ukrainian steel […]
Raw Steels MMI: US steel prices reverse direction, continuing their upward trajectory
The Raw Steels Monthly Metals Index (MMI) increased by 15.14% month over month, as U.S. steel prices picked up this past month. Steel prices rise U.S. steel prices rose in March. Plate prices skipped the price descent and climbed to new all-time highs. Meanwhile, HRC, CRC and HDG hit a bottom in early March and […]
