The Construction Monthly Metals Index (MMI) fell by 6.1% for this month’s reading, as U.S. construction spending rose by 7.5% year over year in the first 10 months of the year. MetalMiner is hosting its final webinar of the calendar year tomorrow — Wednesday, Dec. 8 — during which the MetalMiner team will overview price predictions […]
Tag: Steel
Automotive MMI: Automotive sales remain constrained by limited supply
The Automotive Monthly Metals Index (MMI) dropped by 0.7% for this month’s reading. Stay up to date on MetalMiner with weekly updates – without the sales pitch. US auto sales Ford Motor Co. reported November U.S. sales increased by 5.9% year over year to 158,793 vehicles. Total truck sales increased by 4.6%. Meanwhile, SUV sales […]
Global steel production falls 10.6%; steel prices soften but remain elevated
Yesterday, MetalMiner’s Stuart Burns touched on the aluminum market and plummeting inventories, a trend in stark contrast to former times of plenty. Meanwhile, in the steel market, global crude steel production totaled 145.7 million metric tons in October, the World Steel Association reported. Do you know the five best practices of sourcing metals, including steel? […]
U.S. steel capacity utilization rises to 84.1%
The U.S. steel sector’s capacity utilization rate reached 84.1% for the week ending Nov. 13, the American Iron and Steel Institute reported. Make sure you are following the five best practices of sourcing steel. Steel capacity utilization Steel capacity utilization reached 84.1%, up from 83.4% the previous week. Steel output last week totaled 1.86 million […]
US, Japan to initiate talks on Section 232 steel, aluminum tariffs
The United States and Japan have agreed to initiate talks regarding the former’s Section 232 tariffs on Japanese steel and aluminum imports, Reuters reported this week. According to a report by AP, Japan’s industry ministry said Japan’s Industry Minister Koichi Hagiuda and U.S. Commerce Secretary Gina Raimondo attended the meeting. However, a ministry official said […]
Week in Review: Steel prices soften; House sends infrastructure bill to Biden’s desk; CPI rises 0.9% in October
Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner, including softening steel prices, the House’s passage of the over $1 trillion infrastructure bill and more: Check if your service center is providing you with price transparency for your steel spend. Week […]
Raw Steels MMI: Steel prices, demand soften
The Raw Steels Monthly Metals Index (MMI) dropped by 2.5% month over month. Stop obsessing about the actual forecasted steel price. It’s more important to spot the trend. Auto steel demand shows weakness Steel prices appear poised for a decline in coming months as auto steel demand shows weakness and new capacity is set to […]
This Morning in Metals: US steel capacity utilization dips to 84.3%
This morning in metals news: U.S. steel capacity utilization dipped to 84.3% last week; the OECD reported global foreign direct investment (FDI) flows rebounded during the first half of 2021; and, lastly, the United States International Trade Commission conducted a five-year sunset review of duties on alloy magnesium from China. Get social with us. Follow […]
This Morning in Metals: US, EU reach deal on Section 232 steel, aluminum tariffs
This morning in metals news: the U.S. and E.U. have struck a deal that will see to the former resuming imports of duty-free steel and aluminum from the E.U.; battery storage applications have shifted, the Energy Information Administration explained; and, lastly, compensation costs increased during Q3 2021. Want an occasional email from MetalMiner that highlights […]
Steel producers fear magnesium shortages will hit production in Europe
We wrote recently on the impact rising silicon, magnesium and manganese prices out of China were having on the aluminum industry. Many European mills had issued advisories, essentially putting their customers on notice about possible delivery delays and softening them up for the possibility of cost increases. Well, now it is steel’s turn to sound […]