Author Archives: Fouad Egbaria

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This morning in metals news: U.S. steel imports were down by nearly one-fifth during the January-May period; India has imposed duties on some steel products imported from China, Korea and Vietnam; and imports of oil country goods are down significantly this year.

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The United States International Trade Commission voted unanimously in its anti-dumping and countervailing subsidy review of imports of Chinese collated steel staples, concluding the imports are injurious to U.S. industry.

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According to the most recent data released by the International Copper Study Group, global copper mine production rose 0.5% in the first quarter of 2020 compared with Q1 2019.

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This morning in metals news, the U.S. is reportedly considering reimposing tariffs on Canadian aluminum, U.S. liquefied natural gas (LNG) exports have plunged and global copper mine production ticked up 0.5% in Q1 2020.

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Although demand and overall economic activity in China has begun to recover in recent weeks, overall global steel production in May remained down compared with May 2019 levels.

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This morning in metals news, the U.S. Supreme Court has rejected a challenge to the Trump administration’s Section 232 tariffs on steel, British MPs are calling for government assistance for the British steel industry and ArcelorMittal is reportedly considering the sale of some of its Canadian iron ore assets.

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While positive coronavirus cases are on the rise in several parts of the country, industrial production bounced back in May after posting the largest monthly drop in the history of the Federal Reserve’s industrial production index in April.

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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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This morning in metals news: Vale has announced a plan to resume operations at the Voisey’s Bay mine in Canada; U.S. imports of blooms, billets and slabs have surged in recent months; and Hindalco plans to sell a majority of its output outside of India this year.

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This morning in metals news, thousands of Ford Motor Co. employees who have been working remotely as a result of the coronavirus pandemic might be allowed to continued doing so during the remainder of the year, Chinese coal imports dropped in May and Chinese steel rebar prices lost some ground on oversupply concerns.

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