Week in Review: China automotive sales; steel capacity utilization; steel scrap prices
Before we head into the long Labor Day weekend, let’s take a look back at the week that was in the world of metals.
Automakers released August sales reports, mostly showing sales remain down compared with 2019 levels.
Meanwhile, for the week ending Aug. 29, U.S. steel mills’ capacity utilization fell compared with the previous week, interrupting an extended stretch of weekly capacity increases.
In other news, President Donald Trump took aim at steel imports from Brazil and Mexico. With respect to Brazil, Trump opted to cut Brazil’s semi-finished steel quota for the remainder of the year down to 60,000 tons from 350,000 tons.
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Week of Aug. 31-Sept. 4
- July auto sales in China jumped 16.4% year over year, according to the China Association of Automobile Manufacturers.
- For the week ending Aug. 29, U.S. steel capacity utilization rate fell to 61.7%.
- The U.S. took aim at curbing steel imports from Brazil and Mexico.
- Stuart Burns delved into the pandemic and economic challenges India is facing.
- MetalMiner released the September MMO report earlier this week.
- Despite recent border tensions, India’s steel exports to China have surged.
- Burns weighed in on the steel scrap market and the case for price rises.
- Automakers Honda, Hyundai and Subaru reported their August sales results.
- European metals companies want to see a level environmental playing field.
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