Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner:
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Week of Nov. 15-19 (stainless steel base prices, infrastructure bill and more)
- Nichole Bastin delved into rising stainless steel base prices and surcharges.
- Swedish firm Northvolt announced it had produced its first battery cell using 100% recycled nickel, cobalt and manganese.
- Stuart Burns weighed in on the issue of falling inventories on the LME.
- The U.S. and Japan have agreed to initiate talks regarding the former’s Section 232 metals tariffs. The countries have also agreed to cooperate on tackling global excess steel and aluminum capacity.
- Earlier this week, President Joe Biden signed the Infrastructure Investment and Jobs Act into law.
- The U.S. steel capacity utilization rate ticked up to 84.1% last week, the American Iron and Steel Institute reported.
- Rio Tinto announced a new investment in low-carbon aluminum production.
- Burns delved into the connection, if any, between inflation and tariffs.
- The metals industry will have a key role to play in the world’s efforts to curb carbon emissions and transition to cleaner energy.
- Merchants Fleet announced it is expanding its EV orders from General Motors brand BrightDrop.
- Burns chatted with Mike Stier, Norsk Hydro vice president of finance and strategy, about the infrastructure bill and its potential impact on aluminum.
- The European Commission on Thursday announced it is imposing anti-dumping duties on stainless steel cold-rolled flat products from India and Indonesia.
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