USA

The US market is leading GDP growth among developed nations and, in the process, diverging from the global steel market to the benefit of steelmakers – but to the detriment of consumers. First, what’s happening overseas? In Asia, both iron ore and coking coal prices have been falling – indeed, the forward curve for iron […]

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According to data from the U.S. Energy Information Administration, U.S. crude oil inventories rose by 5.2 million barrels last week, the fifth largest build of the year, with stocks at the Cushing hub rising for the second week in a row. Over the past four weeks, inventories have risen by 22 million barrels, marking the […]

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Articles such as ABC News’ coverage of recent USGA research reporting that the US has untapped and vast potential resources of rare earth elements waiting to replace Chinese supplies are missing the point. The USGA has correctly identified that even better than a deeply buried lode of rare earth minerals, there are extensive mine tailings left […]

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The lovely graph below is similar to graphs often rolled out by supporters of the US manufacturing sector when raising fears about the decline of industry’s role in the economy – and America’s role in the world as a manufacturing nation: Taken at face value, the decline appears inexorable, but when tracked as this one […]

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We have written before about the benefits the shale gas revolution is bringing to the US economy (particularly US manufacturing). Also, we’ve looked at the potential threat that this competitive advantage could be jeopardized by widespread exports of that same low-priced natural gas, depleting the very excess that has caused prices to plunge below world […]

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President Obama made big play of the boon that is low natural gas prices and what it would bring the US. However, while there has been much excitement, evidence of the boost to industry is only now emerging. Few examples, though, could be more telling than that of the world’s second-largest chemical producer by revenue, […]

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Some people herald it as the start of a new dawn, and others condemn it as a potential environmental disaster. I am talking of course about shale gas and shale oil, produced by hydraulic fracturing — known by its shorthand as “fracking.” With every new technology there are winners and losers, benefits and costs. But […]

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Well, now that we’ve got the presidential election out of the way, time for the serious stuff of fiscal legislation. Any problem large enough to worry the markets to the same extent as Europe’s debt crisis has to be some sort of problem, and by far the biggest one facing not just the US but […]

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Taking a rather alarmist title to grab your attention is standard media fare, so maybe we can excuse the Telegraph for suggesting that the rest of the world should beware of the threat of a US recovery. (Update: for the month of September, the ISM PMI registered 51.5 percent, an increase of 1.9 percentage points […]

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A hard-hitting article in the FT by Fred Bergsten and Joseph Gagnon, the director of and a senior fellow at the Peterson Institute for International Economics, respectively, pulls no punches in laying out the case for action against those come to be termed “currency aggressors.” The article states that by artificially manipulating the value of […]

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