This morning in metals news: Nucor began work Friday on its new Kentucky steel plate plant; several members of Congress wrote to Secretary of Commerce Wilbur Ross asking the Trump administration not to impose Section 232 tariffs on electrical steel; and BHP released its quarterly operational review.
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.
Nucor begins work on Kentucky steel plate plant
Nucor began work Friday on its new Kentucky steel plate plant, WDRB reported.
The $1.7 billion steel plate manufacturing plant will be in Brandenburg, Kentucky. The plant is scheduled to open in 2022.
Members of Congress on electrical steel tariffs
Several members of Congress wrote a letter to Secretary of Commerce Wilbur Ross to express opposition to Section 232 tariffs on electrical steel imports, a release by the Core Coalition noted.
“The prosperity of this country depends on the reliable supply of low-cost electricity to business and consumers throughout the United States,” the letter reads. “The outcome of this investigation threatens to undermine that supply.”
BHP releases operation review for quarter ending in September
Miner BHP released its quarterly 2020 operational review, reporting copper output of 413 kt, flat compared with the previous quarter. In addition, copper output at the Escondida mine reached 285 kt, down 3% from the previous quarter.
Furthermore, iron ore output totaled 66 million tonnes, down 1% from the previous quarter.
Nicket output reached 22 kt, down 7% from the previous quarter.
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