This morning in metals news: the February 2021 Monthly Metals Index (MMI) report is out; meanwhile, US steel capacity utilization reached 76.9%; and, lastly, Rusal recently announced the acquisition of a German aluminum producer.
February 2021 MMI report
As regular readers know, we have published all 10 of our Monthly Metals Index (MMI) articles over the past two weeks.
The MMI series covers: Automotive, Construction, Rare Earths, Global Precious, Renewables/GOES, Aluminum, Copper, Raw Steels and Stainless.
Those interested in the MMI series can find this month’s reports compiled in PDF form — visit the MMI landing page for download details.
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US steel capacity utilization reaches 76.9%
The US steel sector’s capacity utilization rate for the week ending Feb. 13 reached 76.9%, the American Iron and Steel Institute (AISI) reported.
The rate marked a rise from 75.2% the previous week.
Furthermore, raw steel production for the week ending Feb. 13 totaled 1.74 million net tons. The total marked a 5.5% year-over-year decline. However, the output marked a 2.2% increase from the previous week.
Rusal to buy German aluminum producer
Russian aluminum giant Rusal recently announced it is acquiring a German aluminum producer, Aluminium Rheinfelden GmbH, out of insolvency.
“Aluminium Rheinfelden is one of Germany’s leading manufacturers of aluminium alloys, semis and carbon-based components and a major supplier to the global automotive industry,” Rusal said. “Aluminium Rheinfelden’s track record of innovation and R&D, combined with its technical expertise (the company owns over 70 patents) and deep connections into the automotive sector, will help reinforce RUSAL’s position as the supplier of choice to its international network of automotive customers.”
In addition, Rusal said the German producer’s “high end, niche product focus” will complement Rusal’s “global scale low-carbon aluminium alloy production.”
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