Week in Review: Steel Production, Earnings Reports and Gold

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khunkorn/Adobe Stock

Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner:

  • Global crude steel production rose 4.6% year over year in 2018, while China’s piece of the pie grew.
  • A dam breach at Brazilian miner Vale’s Corrego do Feijao iron ore mine has left more than 100 dead and hundreds remain missing.
  • Take a listen to MetalMiner’s latest podcast episode, this time on a word that seems to be picking up steam: reshoring. MetalMiner chats with Harry Moser of the Reshoring Initiative.
  • U.S. steel mills hit a capacity utilization rate just over 80% for the year through Jan. 26.
  • AK Steel recently announced its 4Q 2018 and full-year financial results, also announcing it will shutter its already mostly idled Ashland Works by the end of the year.
  • Who really wins after the exchange of metals tariffs between the U.S. and Canada, two longtime allies?
  • India moved just past Japan into the No. 2 spot of top global steel producers last year.
  • U.S. Steel, Nucor Corporation and Tesla all reported their quarterly results earlier this week.
  • Gold has previously been losing a bit of its sheen, but it seems to be shining one again (or, at least, on its way back).

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