This morning in metals news: privately owned housing starts in the U.S. ticked up by 5.8%, according to the Census Bureau; new COVID-19 lockdown restrictions are impacting China’s major steel-producing region; and the primary aluminum market posted a surplus through the first 11 months of 2020. Housing starts jump in December Privately owned housing starts […]
Year: 2021
French firm Total to acquire 20% stake in Adani Green Energy
In the third partnership of its kind between Total SE and the Adani Group, Total will take a 20% stake in renewable power company Adani Green Energy Ltd (AGEL) — the world’s largest solar developer — by way of acquiring shares held by the promoter group. Last year, we reported on Adani Green Energy’s announcement […]
Germany’s ThyssenKrupp mulls steel division spinoff
German steelmaker ThyssenKrupp must be desperate to get rid of its steel business. The steelmaker makes a great range of products of world-class quality. The brand has undeniable strength as a result. However, it has not and cannot make money from it. ThyssenKrupp steel division posts losses The ThyssenKrupp steel division lost money last year. […]
This Morning in Metals: U.S. steel capacity utilization hits 76.7%
This morning in metals news: the U.S. steel sector’s capacity utilization rate hit 76.7% last week; the London Metal Exchange has proposed permanently closing its iconic Ring trading floor; and the copper price has trended flat over the past week. Steel capacity utilization reaches 76.7% The U.S. steel sector’s capacity utilization rate hit 76.7% for […]
ACEA: COVID, buyer confidence strike E.U.’s 2020 passenger vehicle registrations
New passenger automobile registrations in the European Union fell by almost a quarter in 2020, due directly to the COVID-19 pandemic, the European Automobile Manufacturers Association (ACEA) said. “Indeed, containment measures – including full‐scale lockdowns and other restrictions throughout the year – had an unprecedented impact on car sales across the European Union,” the Brussels-based […]
What do China’s surging copper imports tell us about the economy for 2021?
China has had a fraction of the deaths and hospitalizations from the COVID-19 pandemic that Western societies have had. Furthermore, China had an economic bounceback that saw its GDP rise 2.3% last year. China’s bounceback The rebound has been impressive. Construction of new high-speed train lines to smaller provincial cities and new motorways connecting remote […]
This Morning in Metals: Rio Tinto iron ore shipments rise 2% in Q4 2020
This morning in metals news: Rio Tinto’s iron ore shipments rose 2% year over year in Q4 2020; the Energy Information Administration forecast 2021 will see less power generation from natural gas this year; after rising during the first week of 2021, the LME three-month aluminum price has since been sliding. Rio Tinto reports rise […]
Germany’s thyssenkrupp wins contract to build 88 MW water electrolysis plant in Quebec
German steelmaker thyssenkrupp has won a contract to build an 88 megawatt (MW) water electrolysis plant for Canadian energy company Hydro-Québec, the firm announced Monday. “This project is an excellent illustration of how important the interaction of secure access to competitive renewable energy and the use of scaled technology for hydrogen production is,” said Sami […]
Jaguar Land Rover stops production at Midlands plant as coronavirus’ third wave hits U.K.
Although auto plants were among many industries closed in the U.K. during the first lockdown last year, closures gave companies time to prepare working environments to be safe for workers. By the end of the first lockdown, most automakers were back in at least partial production with reduced manning. Auto sales have since been poor, […]
This Morning in Metals: USTR releases annual WTO compliance report for China, Russia
This morning in metals news: the United States Trade Representative released its annually mandated report covering the WTO rules compliance of China and Russia; U.S. Steel officially closed on its acquisition of the remaining equity of Big River Steel; and the Pilbara Ports Authority earlier this month reported shipping data for December. USTR releases annual […]