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:
The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.
Week of Aug. 9-13, 2021 (copper market, steel capacity utilization and much more)
- Maria Rosa Gobitz overviewed the copper market in this month’s Copper MMI report.
- Oil prices dipped earlier this week.
- Stuart Burns on the Chinese steel sector’s output curbs.
- Christopher Rivituso delved into a collaboration between Salzgitter-Flachstahl and Anglo American aimed at decarbonizing the steelmaking process.
- U.S. steel capacity utilization dipped slightly last week to 84.8%.
- Burns on the recent IPCC climate report and what it means for metals markets and metal-using industries.
- Rivituso on potential refractory relines at Tata Steel Netherlands’ IJMuiden facility.
- Steel demand and prices remain robust, Gobitz explained.
- The U.S. Senate approved a $1 trillion infrastructure package earlier this week.
- Meanwhile, strong stainless steel demand is likely to continue well into next year.
- China Molybdenum announced plans to invest $2.5 billion to boost output at the Tenke Fungurume mine in the Democratic Republic of the Congo.
- The Producer Price Index for final demand increased by 1.0% in July.
- Representatives in the House recently introduced a bill calling for tax credits to incentivize domestic rare earth magnet production.
- The gold price dropped last month as the U.S. dollar gained strength.
- Electric vehicle maker Tesla is teaming up with Re|Source to implement a pilot project that aims to trace responsibly sourced cobalt from mine to electric vehicle.
More MetalMiner is available on LinkedIn.