Week in Review: Interest in Liberty Steel’s French assets; automotive sales power ahead; China coal target dampens smelter investment

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 steel sector news, the Biden administration’s release of a 250-page supply chain report and much more:

Week of June 7-11 (steel sector news, Biden administration’s supply chain review and more)

• As contributor Christopher Rivituso reported, ArcelorMittal is expressing interest in Liberty Steel’s assets in France.
• Nucor Corporation announced it will acquire the insulated metal panels business of Cornerstone Building Brands.
• Automotive sales in the U.S. once again posted solid numbers in May.
• Aluminum prices retraced after peaking May 10, Maria Rosa Gobitz explained this week.
• Earlier this week, the Biden administration released a 250-page report summarizing agency heads’ findings and recommendations after executing 100-day supply chain reviews.
• Despite hopes that adverse conditions in the shipping market would ease, in many cases they’ve gotten worse, Stuart Burns explained.
• Novelis is teaming up with a Chinese university to develop innovative uses for aluminum in the automotive sector.
• Meanwhile, U.S. job openings reached a record high of 9.3 million in April, the Census Bureau reported.
• The Architecture Billings Index showed growth for the third straight month.
• The U.S. could consider launching a Section 232 probe covering neodymium magnets.
• The United States International Trade Commission issued determinations covering cut-to-length carbon steel plate.
• China’s 2030 peak coal target is having a dampening effect on new steel and aluminum smelter investment.
• The gold price posted some gains in May, while the 30-year Treasury yield fell to 2.21% earlier this week, its lowest since early March.
• Lastly, Tenaris announced the resumption of production at its steel plant in Koppel, Pennsylvania.

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