UK Proposing Extension of Protectionist Steel Measures

In desperate times, politicians turn to increasingly desperate policies to prop up support. This remains the case for British steel. Recently, the UK’s Boris Johnson has been dodging accusations that he repeatedly lied to parliament. This, combined with his seeming inability to admit his failings, has pushed political turmoil in the country to a fever…

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In desperate times, politicians turn to increasingly desperate policies to prop up support. This remains the case for British steel. Recently, the UK’s Boris Johnson has been dodging accusations that he repeatedly lied to parliament. This, combined with his seeming inability to admit his failings, has pushed political turmoil in the country to a fever...

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Estimating Stainless Steel Costs Becoming More Complicated

Last Month, MetalMiner reported that stainless steel cost had been holding strong amid high demand and increased production. However, we did identify some cracks in what might otherwise look like a solid recovery. As we transition from Q2 to Q3, some o…

Last Month, MetalMiner reported that stainless steel cost had been holding strong amid high demand and increased production. However, we did identify some cracks in what might otherwise look like a solid recovery. As we transition from Q2 to Q3, some of those cracks have grown significantly. Low Demand in China Affecting Stainless Steel Cost...

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British Steel Begins Construction of New Billet Caster at Scunthorpe

New Steel Billet Caster in the Works Longs producer British Steel has begun constructing a billet casting machine at its Scunthorpe works. It will be the second such machine built at the site, which lies in England’s East Midlands region. On June 15th, the company said that the continuous caster should come on stream in late 2022….

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New Steel Billet Caster in the Works Longs producer British Steel has begun constructing a billet casting machine at its Scunthorpe works. It will be the second such machine built at the site, which lies in England’s East Midlands region. On June 15th, the company said that the continuous caster should come on stream in late 2022....

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Solar Panel Tariffs on China Halted, Causing Astonishment

For US President Joe Biden, it’s a Hobson’s choice on Chinese solar panel imports. His new move to pause tariffs on imported Chinese-made silicone solar panels for two years has been either hailed or criticized. The announcement came in the middle of an on-going investigation by the US Commerce Department. Possible trade agreement violations are…

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For US President Joe Biden, it’s a Hobson’s choice on Chinese solar panel imports. His new move to pause tariffs on imported Chinese-made silicone solar panels for two years has been either hailed or criticized. The announcement came in the middle of an on-going investigation by the US Commerce Department. Possible trade agreement violations are...

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Raw Steels MMI: Steel prices continue to drop

U.S. steel prices continue to retreat. After consistent week-over-week declines, HRC prices now sit more than 15% beneath their late-April peak while plate prices continue to trade sideways as they remain just 6% beneath their all-time high. The Raw St…

U.S. steel prices continue to retreat. After consistent week-over-week declines, HRC prices now sit more than 15% beneath their late-April peak while plate prices continue to trade sideways as they remain just 6% beneath their all-time high. The Raw Steels Monthly Metals Index (MMI) fell by 7.87% from May to June. Know what to do...

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EU to Take in Ukrainian Steel With New Tariff Adjustments

The European Commission (EC) has extended its existing safeguard tariffs on steel to June 30, 2024, but with some adjustments. In a letter to the WTO,  the executive body for the 27-member group said the annual rate of liberalization is due to increase from 3% to 4% as of July 1. Liberalization is the degree…

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The European Commission (EC) has extended its existing safeguard tariffs on steel to June 30, 2024, but with some adjustments. In a letter to the WTO,  the executive body for the 27-member group said the annual rate of liberalization is due to increase from 3% to 4% as of July 1. Liberalization is the degree...

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Iron Ore Prices Up In China. But is it Just a Dead Cat Bounce?

It’s still touch-and-go for the steel sector in China despite the sprouting of the first shoots of a possible manufacturing recovery. However, last Monday, benchmark iron ore prices in the country gained a surprising 7%. This is the biggest daily rise in two-and-a-half months. Is it a sign that we should be more optimistic or…

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It’s still touch-and-go for the steel sector in China despite the sprouting of the first shoots of a possible manufacturing recovery. However, last Monday, benchmark iron ore prices in the country gained a surprising 7%. This is the biggest daily rise in two-and-a-half months. Is it a sign that we should be more optimistic or...

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European Gas Impact on Steel Prices

Steel prices and gas are the primary topics of conversation today. It seems that steel traders in China are seeking more buyers abroad for their finished steel products. Meanwhile, Russia is mulling cutting gas supplies to the EU. Gas prices have an en…

Steel prices and gas are the primary topics of conversation today. It seems that steel traders in China are seeking more buyers abroad for their finished steel products. Meanwhile, Russia is mulling cutting gas supplies to the EU. Gas prices have an enormous impact on steel prices. China: Lockdowns at Home, Low Demand Abroad The...

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Construction MMI: Construction Spending Moves in Opposite Directions

The Construction Monthly Metals Index (MMI) fell by 2.9% from April to May, with construction spending averaging a very minor increase. To see our take on macroeconomic indicators, subscribe to the free MetalMiner Weekly update email.  Labor, Supply Chain Drag U.S. Non-Residential Construction Spending in March According to the U.S. Census Bureau, non-residential construction spending…

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The Construction Monthly Metals Index (MMI) fell by 2.9% from April to May, with construction spending averaging a very minor increase. To see our take on macroeconomic indicators, subscribe to the free MetalMiner Weekly update email.  Labor, Supply Chain Drag U.S. Non-Residential Construction Spending in March According to the U.S. Census Bureau, non-residential construction spending...

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Raw Steels MMI: Steel Prices Fall As Demand Concerns Mount

The ascent for U.S. steel prices faltered as HRC, CRC, and HDG prices began to fall in early May. Plate prices also took a big dip.    All in all, the Raw Steels Monthly Metals Index (MMI) fell by 8.9% from April to May. Know what to do when the market shifts. Related article: The…

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The ascent for U.S. steel prices faltered as HRC, CRC, and HDG prices began to fall in early May. Plate prices also took a big dip.    All in all, the Raw Steels Monthly Metals Index (MMI) fell by 8.9% from April to May. Know what to do when the market shifts. Related article: The...

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