Roughly 1/3rd of all US exports rely on freight transport. Food, wood, coal and metal all move across the US’ 140,000 miles of freight routes. Because of this, many US goods providers are worried about the possibility of yet another major railway strike. In September, two of the 12 major US railway unions rejected negotiations, […]
Tag: Steel
Chinese Steel Manufacturing Profitability Down 20%
Is it all doom and gloom for Chinese steel manufacturing? It’s hard to tell at the moment. Indeed, China finds itself in a precarious place financially. What’s more, a sizable section of global financial and stock analysts have predicted the crises will only get worse as the country prepares to face its toughest winter yet. […]
Raw Steels MMI: Steel Prices Flatten, Slowly Edge Downward
The Raw Steels Monthly Metals Index (MMI) fell by 3.04% from September to October. U.S. steel prices continued to drop throughout September. However, declines for both hot rolled coil prices and cold rolled coil prices slowed to a sideways trend. Plate prices, which have shown the most strength of steel prices, traded down for the […]
Renewables MMI: Battery Metal Markets Hold Sideways Trend
The October Renewables MMI (Monthly MetalMiner Index) dropped yet again, but by less than in previous months. All in all, prices fell by 3.28%. The demand for battery metals due to the growing EV market largely kept the index afloat. Still recovering from August’s steep drop, Cobalt traded sideways between September 1 and October 1, […]
Automotive MMI – Car Demand Growing, but Steel Supply Strained
The MetalMiner Automotive MMI (Monthly MetalMiner Index) dropped substantially in October, dipping by 9.08%. Manufacturing limitations due to energy shortages and smelter shutdowns remain the ongoing trend in car manufacturing. However, consumer demand for cars, especially in the US, still holds firm. This leaves many in the automotive industry trying to find a balance between […]
ArcelorMittal Doubles Down on Indian Steel Manufacturing
ArcelorMittal appears quite bullish on India. In fact, the company recently announced its intention to double steel manufacturing at one of its primary plants. ArcelorMittal-Nippon Steel India Ltd. (AM/NS India) plans to spend US $5.1 billion at its Gujarat plant in western India. Betting on strong growth in domestic consumption, the company hopes to boost […]
HRC and CRC Steel Prices Stagnate Amid Energy Crisis
Hot rolled coil steel prices in Western Europe remain largely unchanged since early September. However, as various market participants told MetalMiner, this is despite attempts by at least one steelmaker to increase them According to our sources, multiple factors continue to suppress demand for flat rolled products. These include a slowdown of public works programs […]
Low-Carbon Demand Could Positively Impact US Steel Prices
The Biden-Harris Administration today announced that they would “prioritize the purchase of key low-carbon construction materials, covering 98% of materials purchased by the Federal government.” As steel plants shutter around the world, this is a boon to U.S. manufacturers concerned about dropping steel prices. The announcement highlights the latest section of the “Buy Clean” initiative, […]
Steel Manufacturing: ArcelorMittal Poland Plans Extended Shut-Down
On September 8, ArcelorMittal Poland announced it would take Blast Furnace No. 3 at the Dąbrowa Górnicza steel manufacturing plant off stream starting in late September. According to the company, the temporary measure is a response to current market conditions throughout Europe. At the moment, ArcelorMittal plans to have the furnace of stream for approximately […]
Steel Manufacturing Shutters While Prices Drop
Hot rolled coil prices in Northern Europe declined further the past week due to low demand in steel manufacturing. According to sources, this was due partly to higher costs and uncertain economic outlooks. “There is too much pressure from imports, and stock levels are too high,” one trader told MetalMiner when asked about the declining […]
