MetalCrawler: Behold Apple Inc Gold, Steel Imports Keep Rising and Alcoa Buys RTI

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Gold Prices Going Up

MetalCrawler scours the web for the latest metal news, whether it’s Apple inventing a new gold alloy just for its devices, major acquisitions, the price of steel or whether Marvel/Disney will finally cave and accurately change the name of its trillion dollar movie franchise to Titanium Alloy Man. Check back daily for our daily roundup of MetalCrawler stories!

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Steel Imports Continue to Rise

  • Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the US imported a total of 4,250,000 net tons (NT) of steel in January 2015, including 3,429,000 NT of finished steel (up 16.8% and 15.9%, respectively, vs. December final data). Year-to-date (YTD) total and finished steel imports are 4,250,000 and 3,429,000 NT, respectively, up 33% and 40% respectively, vs. the same period in 2014. Finished steel import market share was an estimated 32% in January.

What’s Gold Got To Do With It?

  • Apple is right about now revealing more details on Apple Watch, a smartwatch that pairs with the iPhone. Live coverage started at 1 p.m.  ET. If you want to watch, Apple is livestreaming the event on their site. What’s this got to do with metals? Business Insider reports that regular 18-karat gold wasn’t good enough for Apple as it’s not  pure gold — it’s an alloy of three parts gold to one part other material. Apple has produced a new patented alloy that contains less gold per volume while retaining the same 3:1 ratio and 18K classification. Yes, Apple gold is apparently better than regular gold. Better start saving now if you want a gold Apple Watch as its expected to cost $10,000 (or more).

Alcoa Will Acquire RTI Int’l Metals

  • Alcoa Inc. said it would acquire Pittsburgh-based RTI International Metals Inc., one of the world’s largest makers of fabricated titanium products for the aerospace and automotive industries, in a stock transaction with a total value of $1.5 billion. Alcoa has been aggressively pursuing the automotive and aerospace sectors for more than a year now as it seeks to diversify itself far beyond its pure aluminum origins. Alcoa picked up Firth Rixson for the same reasons last year.

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