Crude steel production at Evraz’s North American assets dropped 15.1% year over year in 2020. The drop was due mainly to the COVID-19 pandemic’s impact on the global economy, the Russian group noted. Evraz output in North America drops Production for the 12 months totaled 1.58 million metric tons from slightly over 1.86 million tons […]
Year: 2021
Construction MMI: Biden infrastructure plans likely to offer support to metals prices
The Construction Monthly Metals Index (MMI) picked up by 4.4% this month, as December construction spending rose and the Biden infrastructure plan could serve as a major support beam for metals prices. Biden’s infrastructure plans Despite the typically bipartisan support — at least in word — infrastructure spending typically garners, a major infrastructure bill never […]
This Morning in Metals: US trade court dismisses challenge to Section 232 steel tariff
This morning in metals news: the United States Court of International Trade issued a ruling on the Section 232 steel tariff; meanwhile, the Biden administration has reversed a Trump administration decision regarding tariffs on aluminum from the United Arab Emirates; and, lastly, new orders for manufacturing goods rose for an eighth consecutive month in December. […]
West Europe HRC under pressure on higher availability, Lunar New Year
Prices for hot rolled coil in Western Europe appear to be moving away from increases seen in late 2020, as steelmakers there and in Central Europe restart their own crude production and the Lunar New Year in China approaches, market sources told MetalMiner. “It looks they are more decreasing, rather than rising,” one trader said. […]
Metals prices in 2021 likely to plot more stable course
When discussion of metals markets — indeed, any markets — considers likely price trends, it nearly always starts off looking in the rear-view mirror. Last year’s copper market suggests a bull market driven by vociferous Chinese demand. Imports surged after China relaxed its spring lockdown. Prices rose strongly, up some 48% on the LME from […]
India proposes to reduce duties on steel, stainless steel products
A budgetary proposal by the Indian government to reduce steel duties has divided the Indian steel sector. India proposes reduction in steel duties In her 2021 budget speech presented in parliament earlier in the week, Finance Minister Nirmala Sitharaman proposed reducing customs duty on imports of semi-flat steel. She proposed cutting the duy for the […]
This Morning in Metals: US mines produced $82.3 billion in minerals last year
This morning in metals news: US mines produced approximately $82.3 billion in minerals in 2020; meanwhile, the United States International Trade Commission launched a Section 337 investigation related to batteries; and, lastly, aluminum prices have been dropping. US mines produced $82.3 billion in minerals in 2020 US mines produced approximately $82.3 billion in minerals last […]
Automotive MMI: US automotive sales show strength in January
The Automotive Monthly Metals Index (MMI) ticked up 4.6% for this month’s value, as automotive sales were strong in January. US auto sales On the sales front, Honda reported its US sales fell by 9.2% in January. Sales totaled 92,225 units in the first month of the new year. Honda truck sales fell 2.2%, while […]
This Morning in Metals: February 2021 Monthly Metal Outlook is out
This morning in metals news: the February 2021 MetalMiner Monthly Metal Outlook (MMO) report is out; the US steel sector’s capacity utilization rate reached 76.1%; and US industrial production rose in December. February 2021 Monthly Metal Outlook report available The February 20201 MetalMiner Monthly Metal Outlook (MMO) is now available. Readers will find news, analysis […]
Bullish China stainless steel market expected to continue in 2021
Stainless steel prices in Asia have plateaued for now. But most suggest this is a temporary slowdown in advance of the Chinese New Year holidays. Thereafter, the market is likely to continue its relentless rise of the last two years. China stainless steel market ramps up output According to ArgusMedia, China’s production, imports and consumption […]