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 Tata Steel and its attempt to spin off its European assets, the U.S.’s rising steel capacity utilization rate, China’s economic recovery and its impact on metals prices, and much more:
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Week of Nov. 16-20 (Tata Steel looks for buyers, capacity utilization rises and more)
- The Indian economy is showing some signs of recovery, MetalMiner’s Stuart Burns writes.
- A Senate committee included funding for a new Aluminum Import Monitoring system.
- Tata Steel is looking for buyers for its European assets.
- MetalMiner contributor Christopher Rivituso expanded on the aforementioned Tata Steel development, zeroing in on a potential buyer for the IJmuiden plant in the Netherlands.
- The U.S. steel capacity utilization rate rose to 71.4% last week.
- Meanwhile, in Europe, Rivituso delved into the Central and Eastern Europe steel picture in a two-part series earlier this week (Part 1, Part 2).
- Fifteen Asia-Pacific nations signed the Regional Comprehensive Economic Partnership (RCEP) trade pact earlier this week in a virtual ceremony.
- Norsk Hydro signed a memorandum of understanding with Panasonic and Equinor that will see the parties explore the possibility of a Norway-based green battery business.
- The aforementioned RCEP pact went forward without the U.S. and India, as Burns expanded on in a subsequent article on the matter.
- Meanwhile, in other green news, Nucor Corporation recently announced it had signed a power purchase agreement with EDF Renewables North America.
- China’s economic recovery has helped support metals prices. However, what does next year hold?
- Lastly, Burns weighed in on the factors sending shipping rates upward.
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