Week in Review: China’s property market and steel prices; Alcoa to restart aluminum smelter; Ford to collaborate on battery supply chain

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:
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Week of Sept. 20-24 (China’s property market and steel prices, global copper mine production and much more)

• ArcelorMittal announced plans to invest $800 million toward expanding its iron ore production in Liberia.
• Meanwhile, Rio Tinto aims to triple solar capacity at its Weipa bauxite mine.
• Global copper mine production rose by 4.9% during the first half of the year, the International Copper Study Group reported.
• Nucor is evaluating locations for a new sheet mill with capacity of 3 million tons.
• Stuart Burns on skyrocketing natural gas prices and the implications for steel producers.
• Iron ore prices have taken a sharp fall since earlier this year.
• Ford Motor Co. is collaborating with battery materials company Redwood Materials on closed-loop battery recycling and development of a domestic battery supply chain.
• U.S. steel capacity utilization fell to 84.9% last week, the American Iron and Steel Institute reported. While the pace of gains has slowed, U.S. steel prices continue to rise.
• Burns took a look at the precarious situation at Chinese real estate developer Evergrande Group and what it could mean for steel prices.
• Alcoa will restart an aluminum smelter in Brazil that had been idled since 2015. Aluminum prices this week soared to a 13-year high.
• Single-family housing starts fell in August, the Census Bureau reported.
• Lastly, Mercedes-Benz, Stellantis and TotalEnergies are each taking a 33% stake in battery cells manufacturer Automotive Cells Company.

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