This morning in metals news: An executive order is expected Thursday from President Joe Biden pledging that 50% of new vehicles sold in 2030 be zero-emissions. In other news, EVE Energy announced plans for a lithium-ion battery facility in China. Also, GFG settles disputes with Tata Steel and Rio Tinto following financing issues. The MetalMiner […]
Year: 2021
Construction MMI: Architecture Billings Index remains near record high, construction spending rises in June
The Construction Monthly Metals Index (MMI) rose by 8.9% for this month’s MMI reading, as June construction spending rose slightly from the previous month. Each month, MetalMiner hosts a webinar on a specific metals topic. Explore the upcoming webinars and sign up for each on the MetalMiner Events page. Construction spending ticks up in June […]
Automotive MMI: Increased U.S. auto sales restrained
The Automotive Monthly Metals Index (MMI) rose by 3.6% for this month’s MMI reading, as U.S. auto sales rose in July. All the metals intelligence you need in one user-friendly platform with unlimited usage. Request a MetalMiner Insights platform demo. US auto sales General Motors reported last month that its second-quarter sales rose by 40% year […]
COMEX-LME copper arbitrage tells a story
After a barnstorming first quarter, the copper price appears to be bucking the wider bull market narrative by trading sideways in the second quarter. Yet there remains a strange disconnect between COMEX and the North American market and the LME and rest of the world. Receive the latest short-term and long-term outlook for the full […]
This Morning in Metals: Rio Tinto, Komatsu collaborate on zero-emission mining haulage solutions
This morning in metals news: Rio Tinto announced it is working with Komatsu to develop zero-emission mining haulage solutions; meanwhile, Norsk Hydro announced new investments in North America; and, lastly, U.S. steel prices continue to rise, although the pace of gains has slowed somewhat. You want more MetalMiner on your terms. Sign up for weekly […]
ICSG: Copper market in surplus through first four months of 2021
With all eyes on the labor situation at BHP’s Escondida copper mine — the world’s largest copper mine — global copper supply could get a lot tighter if the situation leads to a prolonged strike. In 2017, workers at the mine engaged in a 44-day strike. However, at least through the first four months of […]
China aims to further reduce steel output
The world’s largest steel producer and exporter, China, is actively contemplating adding more curbs to halt environment pollution which, most likely, will reduce its steel output and dampen exports. That’s good news for some of China’s neighbors steel-producing rivals, India and Japan. Stop obsessing about the actual forecasted steel price. It’s more important to spot […]
This Morning in Metals: Steel capacity utilization reaches 85.0%
This morning in metals news: U.S. steel capacity utilization reached 85.0% for the week ending July 31; meanwhile, U.S. energy intensity has dropped by about half since 1983; and, lastly, compensation costs for U.S. civilian workers rose by 0.7% from March to June. You want more MetalMiner on your terms. Sign up for weekly email […]
ArcelorMittal announces $1.4B investment to slash carbon emissions at Ontario plant
ArcelorMittal plans to invest C$1.77 billion ($1.42 billion) into installation of new technology at its Dofasco plant in Ontario. The investments will cut carbon emissions by 60%, or 3 million metric tons, over the next seven years, the steelmaker said. With volatile steel markets, knowing which strategy to execute and when can make all the […]
Natural gas prices adding to inflationary cost pressures
Commodities in the form of metals and agricultural products are not the only goods facing price inflation this year. Power costs have been driven higher by a combination of pandemic bounce-back, extreme weather in the U.S., Europe and Russia this summer, and supply constraints. Are you prepared for your annual steel contract negotiations? Be sure […]