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
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 […]
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 […]
UK Government Freezes Steel Producer Evraz
The UK government recently announced an asset freeze on London-headquartered metal and mining group Evraz. Authorities claim that Evraz is receiving benefits or support from the Russian government to conduct business in strategic and economic sectors. True or not, the freeze has broad implications for global steel production. From steel to copper and beyond, it’s […]
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, […]
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 […]
Russia’s ‘ruble ransom’ — how oil demands might affect aluminum prices, steel prices
Recently, Russian President Vladimir Putin made some tough talk about forcing “unfriendly countries” to pay for Russian gas in rubles, leading us to wonder how that might impact aluminum prices and steel prices. There are fears that Russia’s economic isolation will begin to affect aluminum prices or steel prices. Those impacts would further burden manufacturers […]
MetalMiner experts talk steel imports, steel prices (and more) during ROTH webinar
During a recent ROTH Capital Partners webinar session, MetalMiner CEO Lisa Reisman and Don Hauser, vice president of business solutions, covered a wide range of metals-related topics, from the recent LME nickel debacle to potential metal price drivers to steel imports and steel prices. US steel imports plunge in February On the last point, Hauser […]