Swedish steelmaker SSAB has ended discussions with India’s Tata Steel over potential acquisition of IJmuiden plant, or Tata Steel Netherlands, the Stockholm-headquartered group stated Jan. 29. “After deeper analysis and discussions, it became clear that there were limited possibilities to integrate IJmuiden into the SSAB strategic framework,” SSAB said in a statement. “Discussions with Tata […]
Year: 2021
This Morning in Metals: Copper price slips to one-month low
This morning in metals news: the copper price fell to its lowest level in a month; US housing starts ticked up 5.8% in December; and China’s industrial profits rose 4.1% in 2020. Copper price dips to one-month low After surging in the second half of 2020, the copper price has slumped thus far in 2021. […]
Have Asia-US, Asia-Europe container rates peaked?
Shipping lines have understandably come in for a huge amount of criticism over a doubling of ocean freights — in many cases, much more — over the last 12 months and a host of knock-on issues around container availability and vessel space. Shipments have been delayed both at origin in Asia and at destination in […]
Week in Review: General Motors shoots for carbon neutrality by 2040; copper price cools; December US steel imports rise
Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner. In sustainability news, Big 3 automaker General Motors said it intends to be carbon neutral in its operations by 2040. The automaker has also indicated it will offer 30 new all-electric models […]
This Morning in Metals: General Motors targets carbon neutrality by 2040
This morning in metals news: General Motors announced its goal for carbon neutrality; miner Anglo American released its Q4 2020 production results; and, finally, the Aluminum Association of Canada announced an update in a project related to traceability of Canadian aluminum. General Motors aims for carbon neutrality by 2040 Matching similar announcements by other major […]
US GDP rises 4.0%, short of expectations, to close tumultuous 2020
US GDP finished 2020 on a positive note, rising by 4.0% in the fourth quarter, the Bureau of Economic Analysis reported today. US GDP gains — but falls short of expectations With that said, US GDP gains in Q4 fell short of expectations. The country continued to deal with the impact of the coronavirus pandemic […]
This Morning in Metals: Changan Ford to manufacture Mach-E in China for local customers
This morning in metals news: Ford Motor Co. announced Changan Ford will manufacture the new all-electric Mach-E SUV in China for local customers; the U.S.’s monthly deficit declined from November to December; and U.S. steel imports fell by 21% last year. Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more. […]
How will Biden administration impact US-India trade relations, metals tariffs?
It is too early to talk of the direction US-India relations will take under US President Joe Biden’s administration. But Indian trade circles are keeping a close eye on trade-related developments with a hopeful eye. Hopes for better US-India relations Much of the hope for better US-India relations focuses on the desire that the US […]
China’s property market is a driver — and risk — for steel prices
Just about every review of growth in China — of steel prices or of iron ore demand — contains reference to China’s property market. Few countries in the world have a property sector that plays such a large and dynamic role in the country’s GDP. Furthermore, few have one that causes such concern among a […]
This Morning in Metals: U.S. steel imports rise in December
This morning in metals news: U.S. steel imports in December picked up compared with the previous month; President Joe Biden’s nomination for secretary of commerce, Rhode Island Gov. Gina Raimondo, faced her Senate confirmation hearing yesterday; and the E.U.’s ambassador to the United States called on Biden to reach a resolution on aluminum tariffs and […]