Author Archives: Fouad Egbaria

MetalMiner 2021 Forecasting WorkshopMetals buyers should always be looking for every possible edge to manage their spend, particularly amid volatile times (like we’ve seen this year).

In the MetalMiner 2021 Forecasting Workshop, held virtually this year, attendees will:

  • Hear from MetalMiner experts on short- and long-term metals outlooks
  • Beta test MetalMiner’s should-cost models
  • Gain valuable insights vis-à-vis metals spend strategies for the next year

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copper smelter

Bombardho/Adobe Stock

This morning in metals news: the copper price inched upward Wednesday; U.S. coal-fired plants have been transitioning to natural gas; and Norilsk Nickel recently released its production results for the first half of the year.

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In this month’s Automotive Monthly Metals Index (MMI) report: Ford CEO Jim Hackett will retire, the company announced this week; General Motors has plans to add more than 2,700 electric vehicle charging stations across the U.S.; and U.S. sales continue to show signs of recovery, but July sales remained down compared with a year ago.

The Automotive Monthly Metals Index (MMI) gained 2.4% for this month’s MMI reading.

Automotive MMI

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Monthly Metal OutlookThis morning in metals news: the latest MetalMiner Monthly Metal Outlook report is out; Steel Dynamics has acquired a Mexican metals recycling company; and copper prices bounced back off three-week lows Monday.

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The U.S. steel sector’s steel capacity utilization rate has continued to inch upward in recent months, rising to 59.3% for the week ending Aug. 1.

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coronavirus

JJ Gouin/Adobe Stock

This morning in metals news: ArcelorMittal cited market deterioration in its decision to lay off nearly 900 workers at its plant in East Chicago; Rio Tinto is investing an additional $200 million in its lithium-borate project in Serbia; and the U.S. Department of Commerce has launched antidumping and countervailing subsidy probes related to metal lockers from China.

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wire rod

alusovna/Adobe Stock

The United States International Trade Commission (USITC) last week, in a five-year sunset review related to carbon and certain alloy steel wire rod imports, voted to continue existing countervailing and antidumping duties.

The USITC opted to keep existing countervailing and antidumping duty orders in place because removing them “would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time.”

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US Steel plant in Granite City wide

The U.S. Steel Granite City Works captured by Google Street View in September, 2014.

This morning in metals news: U.S. Steel released its second-quarter earnings results; Nucor Corporation also reported its own financial earnings; and the Federal Reserve opted to maintain its federal funds rate.

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iron ore

nikitos77/Adobe Stock

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.

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copper smelter

Bombardho/Adobe Stock

The copper price has been among the fastest risers among base metals this year, aided in large part by the economic recovery in China.

In its latest reporting, the International Copper Study Group (ICSG) noted the LME average cash price in June rose 9.7% from the previous month, up to $5,742.39/mt.

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