LME steel contracts build momentum

Steel is the world’s second-largest commodity after crude oil. It is 15 times the size of all other metals markets combined in terms of metric tons. Furthermore, it is worth twice their value. Yet, until recently, it was an industry that saw little use for a futures market. That is primarily because major steel participants…

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Steel is the world’s second-largest commodity after crude oil. It is 15 times the size of all other metals markets combined in terms of metric tons. Furthermore, it is worth twice their value. Yet, until recently, it was an industry that saw little use for a futures market. That is primarily because major steel participants...

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Week in Review: January 2021 MMI is out; what’s in store for iron ore?; Oyu Tolgoi expansion faces pushback

Before we head into the weekend, let’s take a quick look back at the week that was and the metals storylines here on MetalMiner, including the release of the January 2021 MMI, a look at what might happen to the iron ore price and much more. Inauguration Day draws near for President-elect Joe Biden, leaving…

The post Week in Review: January 2021 MMI is out; what’s in store for iron ore?; Oyu Tolgoi expansion faces pushback appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

Before we head into the weekend, let’s take a quick look back at the week that was and the metals storylines here on MetalMiner, including the release of the January 2021 MMI, a look at what might happen to the iron ore price and much more. Inauguration Day draws near for President-elect Joe Biden, leaving...

The post Week in Review: January 2021 MMI is out; what’s in store for iron ore?; Oyu Tolgoi expansion faces pushback appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

This Morning in Metals: U.S. import prices up 0.9% in December

This morning in metals news: U.S. import prices rose in December; the Aluminum Association commented on potential changes to the Section 232 aluminum tariff program; and November steel shipments dropped by 11.9%. U.S. import prices gain by 0.9% in Dece…

This morning in metals news: U.S. import prices rose in December; the Aluminum Association commented on potential changes to the Section 232 aluminum tariff program; and November steel shipments dropped by 11.9%. U.S. import prices gain by 0.9% in December U.S. import prices jumped by 0.9% in December, per the Bureau of Labor Statistics. Furthermore,...

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Stainless MMI: Demand, prices to increase in 2021; ATI exits standard stainless sheet product market

The Stainless Monthly Metals Index (MMI) increased by 6.0% this month, as ATI issued a major announcement and China ups its stainless imports from Indonesia. ATI exits stainless steel commodity market products Allegheny Technologies Incorporated (ATI) …

The Stainless Monthly Metals Index (MMI) increased by 6.0% this month, as ATI issued a major announcement and China ups its stainless imports from Indonesia. ATI exits stainless steel commodity market products Allegheny Technologies Incorporated (ATI) announced Dec. 2 that the company would exit the standard stainless sheet product market. The move reduces availability of...

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Raw Steels MMI: Index increases by double digits as steel prices gain to close 2020

The Raw Steels Monthly Metals Index (MMI) increased by 16.5% this month, as steel prices showed strength in December. U.S. steel events On Jan. 5, the U.S. blacklisted Kaifeng Pingmei New Carbon Materials Technology Co Ltd. (KFCC), 12 Iranian steel and…

The Raw Steels Monthly Metals Index (MMI) increased by 16.5% this month, as steel prices showed strength in December. U.S. steel events On Jan. 5, the U.S. blacklisted Kaifeng Pingmei New Carbon Materials Technology Co Ltd. (KFCC), 12 Iranian steel and metals makers and three foreign-based sales agents of an Iranian metals and mining holding...

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This Morning in Metals: Industry groups urge Biden to keep steel tariffs

This morning in metals news: several industry groups urged President-elect Joe Biden to continue existing steel tariffs and quotas; Germany’s OGE and Thyssenkrupp and Norwegian energy company Equinor are collaborating to mitigate emissions; and Norsk Hydro and Nuvosil are working on aluminum and silicon recycling technology. Industry groups urge Biden to keep steel tariffs President…

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This morning in metals news: several industry groups urged President-elect Joe Biden to continue existing steel tariffs and quotas; Germany’s OGE and Thyssenkrupp and Norwegian energy company Equinor are collaborating to mitigate emissions; and Norsk Hydro and Nuvosil are working on aluminum and silicon recycling technology. Industry groups urge Biden to keep steel tariffs President...

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This Morning in Metals: U.S. steel capacity utilization rate rises to 75.4%

This morning in metals news: U.S. steel capacity utilization reached 75.4% for the week ending Jan. 9; General Motors announced the launch of BrightDrop; and Rusal America announced a new line of aluminum additive manufacturing powders. Volatility is t…

This morning in metals news: U.S. steel capacity utilization reached 75.4% for the week ending Jan. 9; General Motors announced the launch of BrightDrop; and Rusal America announced a new line of aluminum additive manufacturing powders. Volatility is the name of the game. Do you have a steel buying strategy that can handle the ups...

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This Morning in Metals: U.S. goods and services deficit hits $68.1M in November

This morning in metals news: the Census Bureau and Bureau of Economic Analysis reported the U.S. goods and services deficit totaled $68.1 billion in November; the Brazilian state of Minas Gerais is hoping to win a compensation deal from miner Vale; and…

This morning in metals news: the Census Bureau and Bureau of Economic Analysis reported the U.S. goods and services deficit totaled $68.1 billion in November; the Brazilian state of Minas Gerais is hoping to win a compensation deal from miner Vale; and the American Iron and Steel Institute released steel import data for December. MetalMiner...

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This Morning in Metals: AISI releases first weekly raw steel production numbers of 2021

This morning in metals news: the American Iron and Steel Institute released its first report on U.S. raw steel production for 2021; Nippon Steel eyes its net-zero emissions goals; and, lastly, the U.S. hot-rolled coil price continues to surge. Become part of the MetalMiner LinkedIn group and stay connected to trends we’re watching and interesting…

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This morning in metals news: the American Iron and Steel Institute released its first report on U.S. raw steel production for 2021; Nippon Steel eyes its net-zero emissions goals; and, lastly, the U.S. hot-rolled coil price continues to surge. Become part of the MetalMiner LinkedIn group and stay connected to trends we’re watching and interesting...

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Turkey steel exports draw interest due to location, lower costs

While Turkey’s finished steel products enjoy local demand, lower costs and the country’s location between Europe and Asia have also made steel exports from there attractive, market watchers told MetalMiner. Turkey’s trade in steel exports came to 9.4 million mt in the first seven months of 2020. The total is down 12.1% year over year…

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While Turkey’s finished steel products enjoy local demand, lower costs and the country’s location between Europe and Asia have also made steel exports from there attractive, market watchers told MetalMiner. Turkey’s trade in steel exports came to 9.4 million mt in the first seven months of 2020. The total is down 12.1% year over year...

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