Housing starts fell by 7.0% in July from the previous month, the U.S. Census Bureau reported Wednesday. With volatile steel markets, knowing which strategy to execute and when can make all the difference between saving and losing money. See how MetalMiner looks at different market scenarios. Housing starts slide in July According to the Census […]
Year: 2021
Bangkok-based Banpu to buy Texas power plant
Continuing with its acquisition of the U.S. natural gas assets, the Bangkok-based Banpu has now agreed to purchase a combined cycle gas-fired power plant in Texas. According to Forbes , Banpu, controlled by billionaire Isara Vongkusolkit, will buy the power plant for U.S. $430 million. More MetalMiner is available on LinkedIn. Banpu looks to the […]
This Morning in Metals: Industrial production rises in July
This morning in metals news: U.S. industrial production picked up in July; the Energy Information Administration revised downward its OPEC petroleum production forecast; and, lastly, Russia’s Rusal recently announced its half-year results. Cut-to-length adders. Width and gauge adders. Coatings. Feel confident in knowing what you should be paying for metal with MetalMiner should-cost models. Industrial […]
Copper caught in the summer doldrums
Dial back to the sentiment earlier this year and copper would be powering through $11,000 per metric ton with today’s fundamentals. However, it has spent much of the last month bobbing around the mid $9,500 per metric ton mark (currently sub-$9,400 for cash). We’re offering timely emails with exclusive analyst commentary and some best practice […]
UK upholds anti-dumping duties for tube and pipe from Belarus, China
The U.K. government has upheld the Trade Remedies Authority’s (TRA) revocation of anti-dumping duties for welded tube and pipe imports from Russia. However, it has upheld them for imports of the same product from Belarus and China. More MetalMiner is available on LinkedIn. Tube and pipe duties The TRA made the recommendation to the Secretary […]
This Morning in Metals: Steel capacity utilization dips to 84.7%
This morning in metals news: U.S. steel capacity utilization fell to 84.7% last week, the American Iron and Steel Institute reported; meanwhile, Glencore signed a cobalt supply deal with Britishvolt; and, lastly, the Department of Energy released a brief on investment in solar energy. Do you know which market conditions are best with different steel […]
Oil prices are unlikely to be lower for much longer
You wouldn’t believe the oil price had been quietly falling since early July when you went to fill up your tank this summer. Gasoline demand is nearly back to pre-pandemic levels from 2019. As a result, pressure on refiners has been so marked that prices have risen sharply enough to make the Biden administration urge […]
Steel prices in China looking more vulnerable in the face of falling input costs
Unusually, the global steel market is diverging in the opposite direction from “normal.” Historically, China would show signs of strength driven by robust construction activity while Europe and the U.S. struggled, facing more mature markets and relatively higher levels of foreign penetration. The U.S. continues to power ahead. There, mill lead times remain stubbornly protracted. […]
This Morning in Metals: Natural gas exports to exceed imports this year, EIA forecasts
This morning in metals news: the Energy Information Administration forecast U.S. natural gas exports will exceed imports this year; aluminum prices remained near 10-year highs last week; and, finally, the Associated General Contractors of America reported on the rise in construction input costs. The MetalMiner Best Practice Library offers a wealth of knowledge and tips […]
Global shipping market deteriorates further
The global shipping market has been a depressing topic to report on this year. We have posted two or three updates on the state of play over the last eight months, each time expecting the situation to improve. Depressingly, by the time we come back to it, it has, if anything, gotten worse. Stay up […]