Russia’s 15% export duty on steel has not impacted market prices for flat-rolled products, either coming into the European Union or rolled within the 27-member bloc, market participants told MetalMiner. “The Russian [steelmakers] are absorbing it completely,” one trading source said of the export duty. A second trader noted a similar situation. “The export tax […]
Tag: Steel
Automakers see 2022 steel price contract negotiations looking brutal
Just over a year ago, MetalMiner commented on the acquisition of most of ArcelorMittal USA’s assets by Cleveland-Cliffs (including potential impacts on steel prices). At the time, the MetalMiner analyst team suggested, “The deal strengthens the company’s position in the automotive sector. The company likely controls 60%-65% of exposed auto sheet supply (think steel used […]
US steel imports dip in August; steel prices continue gains
U.S. steel imports totaled an estimated 2.5 million metric tons in August, the Census Bureau reported Friday, as U.S. steel prices continue to post gains. The August total marked a decline from 2.7 million metric tons in July. Cut-to-length adders. Width and gauge adders. Coatings. Feel confident in knowing what you should be paying for […]
Week in Review: China’s property market and steel prices; Alcoa to restart aluminum smelter; Ford to collaborate on battery supply chain
Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner: Cut-to-length adders. Width and gauge adders. Coatings. Feel confident in knowing what you should be paying for metal with MetalMiner should-cost models. Week of Sept. 20-24 (China’s property market and […]
Evergrande crisis — and China’s property market in general — could have significant impact on metals prices
Anyone following the financial papers cannot have failed to read lurid reports regarding China’s Evergrande construction company, which appears on the brink of collapse. Volatility is the name of the game. Do you have a steel buying strategy that can handle the ups and downs? Chinese markets fall on Evergrande crisis Indeed, stock markets in […]
US steel capacity utilization dips to 84.9%
The U.S. steel capacity utilization rate fell slightly but remained at a healthy 84.9% for the week ending Sept. 18, the American Iron and Steel Institute reported this week. Volatility is the name of the game. Do you have a steel buying strategy that can handle the ups and downs? Steel capacity utilization hits 84.9% […]
Iron ore prices plunge as China curbs steel sector output
Chinese moves to clean up their heavy-polluting industrial sector has triggered a swift collapse in iron ore prices for the first time since July 2020. Prices last Friday and Monday dipped below the $100 per ton mark. According to a draft guideline released on Thursday, the Ministry of Ecology and Environment intends to monitor 64 […]
Construction MMI: Construction spending ticks up, ABI shows growth
The Construction Monthly Metals Index (MMI) picked up by 4.9% for this month’s reading. You want more MetalMiner on your terms. Sign up for weekly email updates here. US construction spending U.S. construction spending reached a seasonally adjusted annual rate of $1,568.8 billion in July, the Census Bureau reported earlier this month. The July rate marked […]
Raw Steels MMI: Index drops after a 14-month climb
The Raw Steels Monthly Metals Index (MMI) dropped by 1.4%, as Chinese steel and U.S. scrap prices declined. Each month, MetalMiner hosts a webinar on a specific metals topic. This month’s discussion is Carbon Steel 2022: What types of steel contracts to set up and when to execute them. Explore the upcoming webinars and sign […]
Hot rolled coil prices in Western Europe take a fall amid holiday season
Higher stock levels and summer holidays have seen prices for hot rolled coil in Western Europe move off since late July, industry watchers said. “I have the impression that people are not fully back yet from their holidays,” one source said. Those who have returned are now either taking a wait-and-see approach to any new […]