Week in Review: A Weakening Yuan, British Steel’s Struggles and a ‘Perfect Storm’
Before we head into the Memorial Day weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner:
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- Stuart Burns delved into the situation at British Steel early in the week (prior to Wednesday’s news of its liquidation). Earlier today, Burns looked into what might be next for Britain’s second-largest steelmaker (including potential buyers).
- Belinda Fuller analyzed the potential ramifications of a weakening yuan vis-a-vis U.S. imports of cold-rolled coil (CRC).
- U.S. housing starts in April picked up from the previous month, but dropped 5.7% on a year-over-year basis.
- For the year through May 18, U.S. steel mills have operated at a capacity utilization rate of 81.8%.
- Burns on the U.S.’s targeted actions against the Iranian metals sector.
- The European Steel Association sounded the alarm for the European steel industry, citing a “perfect storm” of externalities weighing on the industry’s health.
- MetalMiner Executive Editor Lisa Reisman took a deep dive into assumptions related to the putative negative impacts of the Trump administration’s Section 232 steel and aluminum tariffs.
- India is waiting to see how trade talks between the U.S. and China unfold.
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