Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner:
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Week in Review, April 5-9 (steel capacity utilization, European steel’s challenges and more)
- MetalMiner contributor Christopher Rivituso took a look at a recent McKinsey report on the challenges ahead for the European steel sector.
- US energy consumption fell by 7% in 2020.
- Automakers posted strong Q1 sales results in the US market.
- US construction spending fell in February, as did pending home sales.
- US steel capacity utilization reached 77.9% last week.
- China’s relaxation of its copper scrap import regulations is shifting the copper market.
- Stuart Burns on oil prices on the heels of the latest supply-side news from OPEC.
- China is ahead of the game when it comes to securing raw materials for the next industrial revolution.
- The US Court of International Trade ruled in favor of a plaintiff contesting former President Donald Trump’s proclamation that expanded the Section 232 metals tariffs to steel and aluminum derivatives.
- In the Greenland elections, a left-wing party’s victory could be a roadblock to development of a rare earths mine project.
- Three years after the forced closure of its Tamil Nadu copper smelter, Vedanta aims to start up a new site in India.
- Ford China reported its Q1 sales jumped by 73.3%.
- Burns checked in on the state of rising aluminum physical delivery premiums.
- The gold price trended sideways last month but has shown some life through the first week of April.
- The Aluminum Association called for reform of the Section 232 tariff exclusion process.
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