The Raw Steels Monthly Metals Index (MMI) steel prices for the month remained consolidated, with a modest 1.78% decline from November to December. Mills Keep a Lid on Production, Steel Prices After a disappointing Q3 for U.S. flat rolled steel prices, mills appeared to take capacity discipline seriously in the final months of 2024. The […]
Tag: Steel
ThyssenKrupp Steel Slashes Jobs Amid European Steel Crisis
ThyssenKrupp Steel (TKS) recently announced plans to cut up to 11,000 positions. In a blow to the struggling EU steel market, the German steelmaker stated it would also reduce rolled production by an average 23%. “This is the company’s response to the further consolidation of fundamental and structural changes in the European steel market and […]
Automotive MMI: Stellantis’ CEO Steps Down: How it Will Impact the US Automotive Market
The Automotive MMI (Monthly Metals Index) remained sideways, only moving down 2.58%. There are currently no significant factors within the US automotive market causing much movement in price action, and automotive sector as a whole remains slow. Despite this, concern about incoming tariffs from the new Trump administration remains palpable. While Trump hasn’t threatened tariffs […]
British Steel’s £10M Rail Facility: British Steel’s Corrosion-Protected Rails
British Steel has opened a rail stocking facility at its main works in Scunthorpe, in Lincolnshire, where the company produces rails. The £10 million ($12.6 million) facility will be able to hold up 25,000 metric tons of finished rails in 108-metre lengths, the Jingye-owned company stated on November 20. “All rails stocked will have undergone […]
Trump’s Return: Will Tariffs and Green Tech Define the Future of HRC Prices?
Big changes seem to be coming for the steel industry in Europe and the U.S. The European Commission, the executive arm of the EU, recently put forth a masterplan for a new industrial strategy in the 27-member bloc. Mainly the work of former Italian Prime Minister Mario Draghi, who now serves as special adviser to […]
Surging Exports and Stimulus Gains: Is China’s Steel Recovery Sustainable?
Are we seeing the first offshoots of a recovery in China’s steel industry? Some media outlets report that Chinese steel output turned positive for the first time in four months. This comes in the wake of the government’s efforts to restart the domestic economy, coupled with an improvement in demand for steel. In late September, […]
British Steel Secures Resources to Keep Scunthorpe Thriving Through 2025
Steel news outlets recently discovered that longs and semis producer British Steel recently acquired natural resources to sustain production at its Scunthorpe plant through 2025. “At the same time, we remain in active discussions with the government, working together to ensure British Steel continues to play a vital role in meeting the UK’s infrastructure needs,” the […]
Raw Steels MMI: Steel Prices Hold Sideways Following Bearish Q3
The Raw Steels Monthly Metals Index (MMI) remained sideways with a slight upside bias, showing a modest 1.44% increase from October to November. U.S. flat rolled steel prices mostly moved sideways during October. HRC prices edged lower, with a 1.29% decline, while CRC prices rose by a mere 0.95%. HDG prices skipped the sideways trend […]
EU Cracks Down on Anti-Dumping: Probe Into Imports from Asia and North Africa
The European Commission (EC) has begun to register hot rolled coil imports from several countries. The EU’s executive arm said the imports are the subject of an anti-dumping investigation for April 1, 2023, to March 31. The registrations concern imports of the flat rolled product from Egypt, Vietnam, Japan and India, the EU Official Journal […]
Tata Steel’s Massive EAF Deal with Tenova Signals End of Blast Furnace Era
Indian steel industry leader Tata Steel recently announced that it had signed a contract with an Italian company to install a new electric arc furnace at its Port Talbot facility in Wales. Tata stated in an October 18 announcement that Lombardy-headquartered Tenova is to supply one EAF with an annual capacity of 3 million metric […]
