Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner

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While you may be busy putting the finishing touches on your Thanksgiving spread and, subsequently, taking a turkey-induced nap, you might find some time to revisit this week’s coverage, including industrial production figures, aluminum analysis and much more:

• October industrial production rose, per the Federal Reserve.
• LME aluminum prices continue to rise.
• The United States International Trade Commission opted to maintain existing duties on non-oriented electrical steel from several countries.
• Global primary aluminum output rose in October, per the International Aluminum Institute.
• The global copper market is in deficit this year, the International Copper Study Group reported.
• U.S. steel capacity utilization reached 71.5% last week.
• The World Platinum Investment Council issued a bullish 2021 outlook for platinum.
• Stuart Burns took a look at rising aluminum production, particularly in China.
• Norsk Hydro announced production restarts at its Husnes aluminum plant.

We’re off today and will resume regular coverage Monday.

But for now, we wish you a Happy Thanksgiving, MetalMiner readers!

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This morning in metals news: Norsk Hydro recently resumed production at its Husnes aluminum plant; the Census Bureau recently released the latest data on new housing starts; and copper prices continue to rise.

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Norsk Hydro resumes production at Husnes B-line

Oslo-based Norsk Hydro announced the restarts of production at its Husnes aluminum plant after having operated at half capacity since 2009.

The A-line at Hydro’s Husnes plant produces about 95,000 tonnes of aluminum annually. Hydro added it will ramp up output to around 195,000 tonnes as it restarts 200 electrolysis cells in the one-kilometer-long B line.

Hydro President and CEO Hilde Merete Aasheim said the restarts are based on a “combination of increased demand for aluminum and expectations that Norway will continue to utilize EU’s emissions trading system (ETS) for 2021-2030.”

Strong October for housing starts

In addition to the Norsk Hydro news, U.S. housing starts reached a seasonally adjusted annual rate of 1.53 million in October. The October rate marked a 4.9% increase from September.

Furthermore, the October rate marked a 14.2% increase year over year.

Meanwhile, single-family housing starts in October hit a rate of 1.18 million, up 6.4% from September.

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