Tag: Steel

UK Places Hot Rolled Steel Imports Under Scrutiny with Tata Steel Closure Plans

UK Places Hot Rolled Steel Imports Under Scrutiny with Tata Steel Closure Plans steel news at Port Talbot

The United Kingdom’s Trade Remedies Authority (TRA) recently initiated a suspension review on safeguard measures against hot rolled flat and coil steels. Steel news sources report that the move also came alongside a tariff quota review. TRA reported on February 9 that both Tata Steel UK (TSUK) and steel trader Kromat Trading filed applications for […]

Raw Steels MMI: Steel Prices Decrease as Nippon Deal Faces Setback

Raw Steels MMI: Steel Prices Decrease as Nippon Deal Faces Setback hot rolled coil steel prices and steel news.

The Raw Steels Monthly Metals Index (MMI) fell 11.17% from January to February as steel prices declined. U.S. flat rolled steel prices continued to slide after finding a peak at the close of 2023. Following a 2% decline throughout January, hot rolled coil prices fell over 5% during the first half of February. HRC prices […]

Steel Production Declines in December 2023: Factors Impacting the Global Steel Market

Steel Production Declines in December 2023: Factors Impacting the Global Steel Market Steel production, steel market, steel smelting

Data from the World Steel Association (Worldsteel) released on January 25 indicates that global crude steel production remained largely unchanged year on year. Indeed, steel market analysis says poured liquid steel totaled 1.88 billion metric tons last year, which is similar to the volume poured in 2022. The association also stated that crude steel production […]

Automotive MMI: Hot-Dipped Galvanized Prices Flatten, EV Market Moving Too Quickly?

Automotive MMI: Hot-Dipped Galvanized Prices Flatten, EV Market Moving Too Quickly?

All components of the Automotive MMI moved sideways or down month-on-month. Moreover, January saw prices flatten out across the steel market, causing hot-dipped galvanized steel prices to trend close to support zones. Meanwhile, China’s wavering economy continues to prove a concern for global markets because the country is such a large steel demand driver. Many […]

Is China’s Surge in Crude Oil, Coal, and Iron Ore Imports Really a Sign of Economic Strength?

Is China’s Surge in Crude Oil, Coal, and Iron Ore Imports Really a Sign of Economic Strength? China economic deflation

News coming out of China indicates the country set new records in 2023 for the import of crude oil, coal, and iron ore. The revelation caught many by surprise, but analysts caution that this may not really signify a robust demand for these essential materials. Nor does it indicate that there has been any reversal […]

Steel Manufacturing: Uncertainty Looms as Liberty Steel Ostrava Workers Delay Return

Steel Manufacturing: Uncertainty Looms as Liberty Steel Ostrava Workers Delay Return Liberty Steel UK

Workers at flats producer Liberty Steel Ostrava in the Czech Republic did not return to work on January 16, despite local media reports stating that workers agreed to resume working on this date. The Daily Denik noted that there were a couple of other “return dates” set for the steel manufacturing plant, including January 3 […]

India US Trade Leaders Ease Duties, Forge Steel & Aluminum Export Harmony

India US Trade Leaders Ease Duties, Forge Steel & Aluminum Export Harmony india us trade

India US trade is primed to shift. Both countries seem eager to enter a new period of trade harmony, as India’s Ministries of Mines and Steel, along with the Department for Promotion of Industry and Internal Trade (DPIIT), recently set up an in-house system to oversee the export of steel and aluminum products to the […]

Raw Steels MMI: Steel Prices Weak Amid Backwardation

Raw Steels MMI: Steel Prices Weak Amid Backwardation HRC, glossary of terms

The Raw Steels Monthly Metals Index (MMI) rose 3.25% from December to January. U.S. flat rolled steel prices closed the year decidedly bullish. A nearly 14% month-over-month rise saw HRC prices easily outperform all base metals both during the month and throughout 2023 as a whole. Meanwhile, plate prices saw an upside correction after prices […]

Salzgitter’s Relined Blast Furnace Ready to Produce 2 Million Metric Tons of Pig Iron

Salzgitter’s Relined Blast Furnace Ready to Produce 2 Million Metric Tons of Pig Iron Salzgitter pig iron.

German steelmaking group Salzgitter recently blew in Blast Furnace A at its Flachstahl works in Lower Saxony, allowing it to produce up to 2 million MT of pig iron. This came after the company completed a relining that lasted 100 days. On January 3, Saltzgitter noted that the reline included 3,000 metric tons of bricks […]

UK to Impose Carbon Tax for Steel and Aluminum Production

UK to Impose Carbon Tax for Steel and Aluminum Production

HM Treasury recently announced that the UK plans to enact a carbon tax on certain metals and natural resource imports into the country by 2027. The December 19 announcement said that steel, aluminum, and iron ore will be subject to the tax. This tax is currently known as the Carbon Border Adjustment Mechanism (CBAM). “Goods […]

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