Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner, including industrial metals bouncing back, iron ore’s roaring 2020 and much more:
Week of Dec. 7-11 (industrial metals, iron ore and more)
- Stuart Burns overviews industrial metals trends this year and looks ahead to 2021.
- Maria Rosa Gobitz on China’s new copper futures contract.
- Burns on what appears to be a zinc bull narrative — at least on the surface.
- Steel prices continued to surge last month as demand recovers.
- U.S. Steel announced it will acquire the remaining equity in Arkansas-based Big River Steel for approximately $774 million.
- Like much of the metals complex, China’s economic recovery has boosted aluminum.
- Meanwhile, iron ore has proved to be the strongest performer of 2020.
- While announced earlier this year, ArcelorMittal officially completed the sale of ArcelorMittal USA to Cleveland-Cliffs.
- U.S. automotive sales in November were down slightly on a year-over-year basis when adjusting for selling days.
- Gobitz checked in on stainless steel for this month’s Stainless MMI.
- Finished steel import market share reached 18% in November.
- Christopher Rivituso outlined the agreement reached between NLMK USA and the U.S. government over the refund of Section 232 duties paid.
- U.S. construction spending increased by 3.7% year over year in October, according to recently reported U.S. Census Bureau data.