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. This week, we touched on the USMCA (which turned 1 on Thursday), Stuart Burns covered the relationship between inventory levels and metals demand, and much more. On the USMCA — […]
Year: 2021
This Morning in Metals: U.S. goods and services deficit ticks up in May
This morning in metals news: the U.S. goods and services deficit rose by $2.2 billion in May; meanwhile, new orders for manufactured goods rose in May; and, lastly, Ford Motor Co. released its June sales results. We’re offering timely emails with exclusive analyst commentary and some best practice advice. Sign up here. US goods and […]
USMCA hits one-year mark
Back on July 1, 2020, the United States-Mexico-Canada Agreement (USMCA) went into effect. The deal, reached during the Trump administration, began with negotiations aimed at the modernization of the 1994 North American Free Trade Agreement (NAFTA). Those negotiations kicked off in August 2017. More MetalMiner is available on LinkedIn. A year on: USTR remarks on […]
This Morning in Metals: Norsk Hydro signs letter of intent to build US aluminum recycling plant
This morning in metals news: Norsk Hydro today announced it signed a letter of intent to build a new aluminum recycling plant in Cassopolis, Michigan; the Census Bureau released construction spending data; and, lastly, the zinc price posted some gains this week. You want more MetalMiner on your terms. Sign up for weekly email updates […]
Don’t trust stock levels to reflect metal demand
Analysis, specifically what’s termed fundamental analysis of metal supply and demand, and its impact in driving metal prices, is often a blunt tool. That is particularly true since the financial crisis. Then, traders and hedge funds discovered the wheeze of buying spot and selling far forward (typically from 18-month to a few years) when the […]
This Morning in Metals: USMCA Labor Council convenes for first time
This morning in metals news: as laid out in the United States-Mexico-Canada Agreement (USMCA), the USMCA Labor Council convened for the first time; meanwhile, the Energy Information Administration reported on potential electricity disruptions this summer; and, lastly, Rio Tinto declared force majeure at one of its operations. The MetalMiner Best Practice Library offers a wealth […]
EU extends steel safeguards for three more years
In an anticipated move, the European Union has published its decision to extend its steel safeguards for three more years. EU members voted on the extension June 18 and it published the implementing regulation June 28. The safeguards will extend from July 1, 2021, to June 30, 2024. “The initial safeguard measure was introduced in […]
Zinc losing support with further declines expected
The zinc price has defied expectations that oversupply would put so much downward pressure on prices that last month’s $3,100/ton high would be the peak for years to come. Although the zinc price has drifted off those highs, it is currently just under $2,900 per metric ton for cash and three-month on the LME, zinc […]
This Morning in Metals: USCIT votes to affirm Commerce’s AD duty determinations on Korean steel pipes, tubes
This morning in metals news: the U.S. Court of International Trade voted to affirm the duty levels set by the Department of Commerce with respect to heavy walled rectangular steel pipes and tubes from Korea; meanwhile, U.S. distillate demand returned more quickly than gasoline and jet fuel demand; and, lastly, the copper price has bounced […]
The utilization rate of steel capacity in the United States has reached 82.7%
U.S. steel capacity utilization reached 82.7% for the week ending June 26, the American Iron and Steel Institute reported Monday. 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. Steel capacity utilization takes small step back However, U.S. steel […]