Week in Review: Auto sales; potential Section 232 aluminum exemptions; oil struggles
Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner, including coverage of: U.S. auto sales; potential Section 232 aluminum exemptions for the U.A.E. and Bahrain; oil majors’ struggles; and more.
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.
Week of Oct. 5-9 (auto sales, potential Section 232 aluminum exemptions and more)
- The automotive sector at large has started to show positive signs of recovery, even as low inventories have capped sales to an extent.
- Brazilian iron ore exports surged in September.
- MetalMiner’s Stuart Burns delved into the possibility of Section 232 tariff exemptions for major aluminum producers Bahrain and the U.A.E.
- U.S. construction spending rose 1.4% in August, according to the U.S. Census Bureau.
- Global alumina production rose 2.7% in August on a year-over-year basis.
- Oil majors are facing both low demand and low prices.
- Last month, President Donald Trump issued an executive order aimed at strengthening the domestic mining sector.
- Job openings in August were relatively unchanged, according to the Bureau of Labor Statistics.
- India is considering the extension of duties on steel products from the U.S. and other countries.
- Precious metals took a fall earlier this week.
- Electric vehicle battery maker SVOLT will supply cobalt-free batteries to Chinese automaker Great Wall, Reuters reported.
- Finally, Moody’s upgraded its global steel outlook from “negative” to “stable.”
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