This Morning in Metals: U.S. Raw Steel Production Picked Up
This morning in metals news, domestic raw steel production for the week ending Feb. 24 was up slightly from the same week last year, Shanghai copper prices drop and Japan’s steel exports rose 24.1% in January.
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Raw Steel Production Up 0.7% Year Over Year
Raw steel production for the week ending Feb. 24 was up 0.7% compared with the same week in 2017.
Production for the week amounted to 1,783,000 net tons for a capacity utilization rate of 76.5%. Production for the week ending Feb. 24 was up 1.8% from the previous week. In the year to date, however, raw steel production is down 1.6% compared with the same period in 2017.
SHFE Copper Prices Fall
Copper on the Shanghai Futures Exchange fell Tuesday, partially a result of a strengthening dollar, according to a FastMarkets report.
The most-traded April contract on the exchange fell to $8,430 per ton, according to the report.
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Japan Zinc Exports Surge to Start the Year
Exports of zinc from Japan jumped 24.1% year over year in January, according to Reuters.
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