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 Oct. 4-8
- Stuart Burns on the energy crisis in China.
- New orders for manufactured goods rose in August, the Census Bureau reported.
- China’s rare earths production is set to rise this year.
- Building on the energy theme, Burns zeroed in on India, particularly its coal crisis.
- Cleveland-Cliffs and the union representing workers at Rockport Works have reached a three-year labor deal.
- According to a recent report, Southeast Asia needs to invest approximately $2 trillion in renewable energy, electric vehicles and waste management.
- U.S. construction spending finished virtually unchanged from the previous month in August.
- Steel capacity utilization fell to 84.8% last week, the American Iron and Steel Institute (AISI) reported.
- The ongoing semiconductor shortage and resulting low inventories dented automotive sales in the third quarter.
- Nucor announced it is launching a new line of net-zero carbon steel products.
- Europe is also facing energy-related challenges.
- Thyssenkrupp Steel is restarting a blast furnace at its Duisburg plant.
- Copper demand doubts are weighing on prices for the red metal.
- Nonfarm payroll employment in the U.S. rose by 194,000 jobs in September.
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