Prices for hot rolled coil in Western Europe have risen further in the past month as mills seek to regain lost revenue from the declines of 2024. As the steel industry looks to 2025, this could have significant implications for prices and partnerships. “People are buying before year’s end. I’ve got several bids,” one market […]
Tag: manufacturing
ThyssenKrupp Steel Slashes Jobs Amid European Steel Crisis
ThyssenKrupp Steel (TKS) recently announced plans to cut up to 11,000 positions. In a blow to the struggling EU steel market, the German steelmaker stated it would also reduce rolled production by an average 23%. “This is the company’s response to the further consolidation of fundamental and structural changes in the European steel market and […]
Liberty Steel UK Cuts its Steel Production
Liberty Steel UK (LSUK) plans to reduce steelmaking and mothball some of its UK assets as part of restructuring plans. The group instead wants to focus on high-value, alloy-steel production in order to remain competitive. “Despite the injection of £200 million ($244 million) of shareholder capital over the last two years, the production of some […]
Destroyed Ukrainian Energy Grids Impact Steel Production
Steel production in Ukraine took a hit this past week due to the ongoing conflict with Russia. Industry watchers told MetalMiner that several Ukrainian steelmakers are facing production and rolling issues. Energy suppliers are rationing power distribution to major consumers. The rationing is the direct result of missile attacks and other military actions by Russian […]
Vietnamese automaker VinFast to build EV manufacturing center in North Carolina
As we continue to analyze current market factors and their impacts on nickel prices, copper prices and other key metal prices for automotive production, today we’ll focus on an announced addition to the domestic automotive manufacturing scene. A new automotive player will be coming to the U.S. soon, as Vietnamese automaker VinFast this week announced […]
Fed: October 2020 industrial production rises 1.1%
The Federal Reserve reported October 2020 industrial production rose 1.1%. Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more. October 2020 industrial production rises Per the Fed, October 2020 industrial production rose but remained 5.6% lower than the pre-pandemic level in February. However, the Fed also noted the industrial production […]
Europe goes back into lockdowns, growth forecast to collapse — again
Global stock markets took a battering last week. Investors finally woke up to the resurgence of COVID infections in Europe and the series of national lockdowns. British Prime Minister Boris Johnson announced a one-month lockdown over the weekend. The U.K.’s lockdown adds to those already in place in the other parts of the U.K. and […]
This Morning in Metals: GM announces partnership with Nikola Corporation
This morning in metals news: General Motors announced a partnership with Nikola Corporation; U.S. manufacturing corporations saw their profits plunge in Q2 2020; and Chile’s copper shipments fell in August. We’re offering timely emails with exclusive analyst commentary and some best practice advice – and you choose how often you receive it. Sign up here. […]
This Morning in Metals: Labor productivity declines in wide range of manufacturing industries in 2019
This morning in metals news, productivity was down for a number of manufacturing industries last year, BHP has executed its first blockchain iron ore trade with China’s Baosteel and copper prices continue to surge.
Europe is beating the virus … now it faces the economy
France, heartbeat of the European social ideal, is facing an existential crisis caused by the impact of the lockdown of its economy. Nowhere is that more evident than in the Grand Est region of northeastern France, termed the heart of the country’s auto industry, according to the Financial Times.