The September Automotive MMI (Monthly MetalMiner Index) traded sideways, falling a modest 2.13%. The same issues continue to affect manufacturing: rising demand and too few resources. Car Manufacturing Supply Chain Woes Supply chain shortages remain a persistent problem for the global automotive industry. Indeed, many companies are still struggling to find the necessary parts and […]
Tag: Steel
Raw Steels MMI: Steel Prices Decline, Pace Slows
U.S. steel prices continue to search for a bottom, although the pace of declines began to slow as August saw the smallest month-over-month percent decrease since May. Nonetheless, by early September, hot rolled coil prices fell beneath the $800/st mark for the first time since December 2020. Plate prices also trended downward last month, dipping […]
China’s Steel Supply Encounters Significant Hurdles.
Everyone thought a COVID-19 ravaged steel supply market in China took a turn towards recovery. However, many other hurdles now stand in the way, both long & short term. Power cuts and muted demand driven by the construction crisis in China stand in the path of growth. Even worse, the cascading effect has affected the […]
UPI Closure to Have Limited Impact on Steel Prices
USS-Posco Industries (UPI) to close, sell plant in 2023 or 2024 The Pittsburg, CA based finished steel producer USS-Posco Industries (UPI) will close its doors in 2023. UPI manufactures hot rolled pickled and oiled, cold rolled coil, hot dipped galvanized and tin plate. Although unconfirmed, the facility was reportedly purchased by Amazon for use as […]
Russian Steel Producer MMK Added to Latest US Sanctions List
On August 2, the United States officially added integrated steelmaker Magnitogorsk Iron & Steel (MMK) and its chairman Viktor Rashnikov to its list of sanctioned entities. The move is yet another punitive measure in response to Russia’s February invasion of Ukraine, in hopes that the steel manufacturing sanction will place more economic pain on Russia. […]
Automotive MMI: Downward Trend Continues, Experts Lose Confidence in the Automotive Market
The Automotive MMI (Monthly Metals Index) dropped by 6.32% this past month, a downward trend it has been maintaining since May. The drop comes despite valiant efforts to put out some of the fires plaguing the car manufacturing industry. But with the microchip shortage, surging inflation, and issues with both supply and demand, the automotive […]
Russia, Ukraine, and the “New Normal” of Global Steel Supply
Steel prices have waxed and waned more than usual this past year. MetalMiner has reported extensively on all of the various factors contributing to this unpredictability. Of course, you can’t ignore China’s rolling COVID lockdowns or the year-long supply chain hangups. However, we feel one of the biggest X factors for the global steel supply […]
Raw Steels MMI: Hot Rolled Coil Prices Hit New Lows
U.S. steel prices continued their decline this month alongside other steel markets. Hot rolled coil, cold rolled coil, and hot dipped galvanized prices all dropped beneath their early March bottoms. HRC prices, in particular, continue to close in on the $1,000/st mark, while plate prices saw their second consecutive month-over-month decline.The Raw Steels Monthly Metals […]
Renewable/GOES MMI: Renewable Prices Nose-Dive, GOES Remains Strong
The Renewables MMI (Monthly Metals Index) dropped significantly from June to July. All in all, the index fell a staggering 22.05%. How will this impact steel prices today? Problems With China’s Solar Panel Manufacturing Dominance Some experts say that initiatives aimed at creating a zero-carbon future are being impacted by dependence on Chinese solar panels. […]
Plate and HRC Steel Production Strained as Factories Shut Down
Metinvest, the Ukrainian steel production and mining group, recently began the process of restarting several of their Italian flats rolling mills. The factories had been offline for scheduled maintenance throughout May. And with global supplies strained, both Metinvest and the market are welcoming the much-needed additional steel production. Metinvest’s plate and hot rolled coil mill […]
