This morning in metals news, MetalMiner has released its July Monthly Metal Buying Outlook, the U.S. House of Representatives passed a $1.5 trillion infrastructure bill and Ford Motor Co.’s second-quarter sales were down 33.3%.
July Metal Monthly Buying Outlook is out
We’re already halfway through what has been a volatile 2020, during which MetalMiner has noted price upticks and monitored a wide range of other developments in our monthly forecasting. You’ll want to pay attention to these and other key areas when reading the July Monthly Metal Buying Outlook:
- Steel prices are volatile — and bear close watching as economic recovery efforts continue in China and the U.S.
- Inventory levels for a number of metals — and crude oil — are elevated.
- Some commodities prices, including copper, have moved past MetalMiner’s resistance levels.
House passes $1.5T infrastructure bill
Despite its approval in the Republican-controlled Senate being highly unlikely, the U.S. House of Representatives on Tuesday passed a $1.5 trillion infrastructure bill, double the size of an infrastructure bill proposed by the House earlier this year.
The bill passed by a vote of 233-188 in the House.
Ford sales down 33.3%
Ford Motor Co. reported its second-quarter total sales fell 33.3% year over year.
“Coronavirus concerns clearly affected Q2,” Ford said in its sales release. “Ford’s overall Q2 sales were down 33.3 percent, while retail was down much less than industry at 14.3 percent.”