Before we head into the weekend, let’s take a look back at the week that was and some of the metals coverage here on MetalMiner, including coverage of aluminum prices, a General Motors collaboration with MP Materials aimed at developed a fully integrated U.S. rare earth magnet supply chain and much more:
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Week of Dec. 6-10 (aluminum prices, rare earth magnet supply chain and more)
- Nucor Corporation announced plans to build a rebar micro mill in the South Atlantic region. The company already has rebar micro mills in Missouri and Florida.
- U.S. automotive sales remain depressed as a result of low inventory.
- U.S. construction spending through the first 10 months of the year jumped 7.5% year over year, the Census Bureau reported.
- The U.S. steel capacity utilization rate dipped to 81.9% last week, the American Iron and Steel Institute reported.
- Aluminum prices trended sideways in November, MetalMiner analyst Nichole Bastin explained.
- Energy prices are on the rise in Europe, putting the squeeze on both residential and industrial users.
- Like aluminum prices, copper prices also consolidated in November after an October spike.
- Bastin checked in on the stainless steel market, including nickel price volatility.
- General Motors said it will invest $51 million toward equipment for its aluminum die casting foundry in Bedford, Indiana.
- Stuart Burns also took a look at aluminum prices and China’s impact on the aluminum market.
- China introduced a draft plan to reduce emissions from metals by 5% by 2025.
- Lastly, in the rare earths space, General Motors announced a collaboration with MP Materials to develop a fully integrated supply chain for rare earth magnets. MP materials operates the Mountain Pass rare earths mine and processing facility in California.
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