This morning in metals news: MetalMiner’s 2021 Forecasting Workshop is tomorrow; steel shipments from U.S. mills dropped 22% in June; and the European Steel Association outlined the impact of the COVID-19 pandemic on the European steel sector.
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Last chance to sign up for 2021 Forecasting Workshop
MetalMiner’s annual Forecasting Workshop is tomorrow — don’t miss your chance to participate.
This year’s workshop will take place virtually via Zoom and is scheduled to begin at 10 a.m. (CDT), Thursday, Aug. 13.
The workshop will offer invaluable insights for metals buyers, including short- and long-term forecasts, beta testing of MetalMiner “should-cost” models and much more.
Steel shipments drop 22%
The American Iron and Steel Institute reported U.S. steel shipments fell 22% in June on a year-over-year basis.
June shipments totaled 6.02 million net tons, which marked a 10.3% increase from the previous month.
COVID-19 pandemic hits European steel hard
The European Steel Association (EUROFER) recently outlined the impacts of the coronavirus pandemic on the continent’s steel sector.
“The coronavirus pandemic has cut the legs out from under the European steel industry, causing severe damage to the whole sector and its value chains,” said Axel Eggert, director general of the European Steel Association (EUROFER). “The data now available confirm that the downturn that had begun in 2019 has been compounded by the crisis – with the sector now in a state of emergency.”
E.U. steel consumption fell in the first quarter for the fifth consecutive quarter, dropping 12% year over year.
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