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. 18-22 (steel demand, aluminum alloys and more)
- Stuart Burns checked in on talks between the U.S. and E.U. over the Section 232 tariffs on steel and aluminum.
- The World Steel Association forecast global steel demand will rise by 4.5% this year.
- A shortage of aluminum alloy elements, like magnesium, is yet another problem in the sector.
- Zinc prices last week surged to 14-year highs.
- The copper market is showing some signs of “extreme duress,” Burns said.
- The LME copper price surged last week but retraced this week.
- China began construction on a massive wind and solar project in the desert.
- Metals supply constraints are probably not going away anytime soon.
- U.S. steel capacity utilization rose to 85.3% last week.
- In a new series, MetalMiner’s Nick Athanis is exploring the history of money, particularly store-of-value assets like gold and, in the modern age, Bitcoin.
- Surging power costs in China are driving aluminum alloy prices upward.
- Housing starts fell in September compared with the previous month.
- BMW announced it will source steel from Swedish firm H2 Green Steel.
- The United States International Trade Commission ruled that imports of aluminum foil from five countries have been sold at less than fair value and subsidized by five countries.
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