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 a fall in commodity prices, aluminum market supply and much more:
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Week of June 21-25 (commodity prices, aluminum market and more)
- Commodity prices declined recently amid a stronger run for the U.S. dollar.
- General Motors is collaborating with Liebherr-Aerospace to develop hydrogen fuel cell power demonstrator systems for aircraft.
- MetalMiner’s Stuart Burns overviewed the supply-and-demand balance in the aluminum market.
- Christopher Rivituso on the Belgium government’s plans to offer a loan to a Liberty Steel asset there.
- U.S. steel capacity utilization hit 82.9% last week, the American Iron and Steel Institute reported.
- Trade tensions continue to simmer between China and Australia. However, China continues to rely on Australia for the majority of its iron ore imports.
- Global copper mine production production jumped by 3.7% year over year, the International Copper Study Group reported.
- The U.S. Court of International Trade dismissed a challenge of the Section 232 tariffs on Canadian steel.
- The steel markets in the U.S. and Europe remain tight, Burns explained.
- U.S. steel imports dipped in May, the Census Bureau reported.
- Rio Tinto has signed a memorandum of understanding with Schneider Electric to develop a “circular and sustainable market ecosystem.”
- Lastly, global crude steel production rose by 16.5% year over year in May, the World Steel Association reported.
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