Amidst the trade tension that exists between the United States and India, now comes a report that India’s steel exports to the U.S. last year fell by a whopping 49%. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook On the other hand, exports of Indian aluminum went up by 58%. […]
Tag: Steel
This Morning in Metals: U.S. Steel Import Market Share in February Hits 20%
This morning in metals news, U.S. imports of steel dropped in February after an import-heavy January, Alcoa released its first-quarter financial results and flat-rolled aluminum producer Novelis is looking to secure exemptions on its pending requests related to tariffs covering Canadian aluminum. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook […]
Can the Chinese Government Keep Steel Production in Check in 2019?
The Chinese government frequently mandates steel production cuts, especially for environmental reasons. But the cuts have also aimed to cut production volume in support of maintaining higher steel prices and, therefore, a healthier domestic industry. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook A recent goal of cutting 150 million […]
Could Spot Iron Ore be on Track for $100/Ton?
According to Reuters, spot 62% grade iron ore for delivery to China recently rose 1.6% to $93 per metric ton and the most-traded May 2019 iron ore contract on the Dalian Commodity Exchange soared as much as 4.1% to 710.5 yuan ($106) per ton — the highest for the Asian benchmark since 2013. Need buying […]
Raw Steels MMI: Subindex Dips on Mixed Price Movements
The Raw Steels Monthly Metals Index (MMI) fell by one point this month to 81, a 1.2% decline from the previous month’s MMI value. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Price weakness in the index came from the U.S. HRC 3-month futures contract, with a 6.3% decline in price […]
EUROFER: Extend Mandate for Global Forum on Steel Excess Capacity
The mandate for the Global Forum on Steel Excess Capacity (GFSEC), an organization that has come in for criticism from the U.S., expires in November. However, the European Steel Association (EUROFER) argues the forum, which has focused on creating policies to tackle global excess capacity, should have its mandate extended. Need buying strategies for steel? Request your […]
This Morning in Metals: Nucor to Invest $1.35B for New Kentucky Steel Plate Mill
This morning in metals news, Nucor announced a major investment toward a new steel plate mill in Brandenburg, Kentucky, steel CEOs ask the Trump administration to maintain the Section 232 duty on steel, and copper prices moved up as U.S.-China trade talks resumed today. Need buying strategies for steel? Request your two-month free trial of […]
U.S. Finished Steel Import Market Share Rises to 25% in January
The U.S. imported a total of 3.48 million tons of finished steel in January, the American Iron and Steel Institute (AISI) reported this week (based on U.S. Census Bureau data). Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook The January import total marked a 20.7% increase from the January 2018 […]
Trade Court Rejects Legal Challenge Aimed at Undoing President’s Section 232 Powers
The Trump administration scored a trade win in a ruling by the U.S. Court of International Trade (CIT) on Monday, as the three-judge panel rejected a challenge to the constitutionality of the Section 232 statute that yielded duties on imported steel and aluminum last year. Need buying strategies for steel? Request your two-month free trial […]
This Morning in Metals: Trump Says China Tariffs Could Stay for ‘Substantial Period of Time’
This morning in metals news, President Donald Trump indicated Wednesday the U.S. tariffs on China might not be going away anytime soon, copper prices soared to an eight-month high and an Ohio steel company received a state grant to upgrade a railroad spur. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s […]
