The Red Sea, a critical global trade route, faces significant disruptions due to intensified attacks by Houthi rebels, impacting international commerce and shipping operations.
The Renewables Monthly Metals Index (MMI) experienced significant fluctuations, particularly in EV battery technology, amidst a potential trade war between the EU and China over EV subsidies.
The U.S. construction industry maintains a steady course with a slight index drop, bolstered by job growth and major infrastructure projects, indicating potential increases in steel demand.
Steel Prices Inch Higher As UAW Strike Ends menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
The Automotive MMI (Monthly Metals Index) moved sideways month-over-month, rising in price by just 2.31%. Save for hot-dipped galvanized steel, most parts of the index also traded sideways, mainly due to a lack of strong bullish or bearish pressure. .