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 […]
Tag: Steel
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 […]
Looking Ahead, Part 2: With Steel, What Happens in China Doesn’t Stay in China
[Editor’s Note: This is the second of a two-part series on steel supply and prices. Revisit Part 1 here.] Actual Chinese Steel Prices Looking at longer-term trends in Chinese steel prices, we can see after hitting a low during mid-to-late 2015, prices trended upward overall (with some ups and downs along the way). For example, […]
U.S. Steel Production Through March 16 Up 6.7% Year Over Year
U.S. steel mills produced 1.93 million net tons of raw steel during the week ending March 16, according to the American Iron and Steel Institute (AISI). Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Production for the week — which came at a capacity utilization rate of 82.9% — was […]
Looking Ahead, Part 1: A Surprising Outlook for Steel Prices in 2020
According to Bank of America Research Analyst Timna Tanners, Steelmageddon looms on the horizon due to massive planned capacity increases in the U.S. steel industry. Her analysis indicates the equivalent of around a 20% capacity increase when aggregating investments across companies and production methodologies over the next few years. Due to the massive ramp-up, the Steelmageddon theory […]
This Morning in Metals: LME Steel Contract Launch Could be Delayed
This morning in metals news, Reuters reports the launch of the London Metal Exchange’s planned steel contract will likely be pushed back to 2020, China’s average daily steel output in January and February increased, and India’s imports of iron ore were up 157% during the April-December 2018 period. Need buying strategies for steel? Request your […]