This morning in metals news: the number of U.S. job openings showed little movement in August, the Bureau of Labor Statistics reported; U.S. Steel’s Keetac mine remains closed; and winter heating bills are likely to be a little higher than last year’s, per the Energy Information Administration.
The MetalMiner 2021 Annual Outlook consolidates our 12-month view and provides buying organizations with a complete understanding of the fundamental factors driving prices and a detailed forecast that can be used when sourcing metals for 2021 — including expected average prices, support and resistance levels.
Job openings unchanged in August
According to the Bureau of Labor Statistics, U.S. job openings were relatively unchanged in August.
Job openings stood at 6.5 million as of the last day of August. Job openings decreased by 68,000 within the construction sector.
Keetac mine remains idled
In late April, U.S. Steel announced it would idle its Keetac mine in Minnesota and lay off hundreds of workers.
Almost six months later, the mine remains closed despite others in Minnesota’s Iron Range having already reopened, the Duluth News Tribune reported.
Winter heating bills
The Energy Information Administration reported this year’s winter heating expenditures will be higher than last year’s.
“Compared with last winter’s heating bills, EIA expects households that primarily use natural gas or electricity will have slightly higher energy expenditures this winter, and households that use propane will spend 14% more,” the EIA reported. “EIA expects households that use heating oil to spend 10% less than last winter.”
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