The International Copper Study Group (ICSG) reported the global copper market posted an apparent deficit of 480,000 metric tons through the first 10 months of 2020. Global copper market in deficit, output down In addition to the global copper market deficit, the ICSG reported global copper mine production fell by 0.5% during the aforementioned period. […]
Fouad Egbaria
This Morning in Metals: Biden signs executive order aimed at boosting federal procurement of U.S.-made products
This morning in metals news: President Joe Biden on Monday signed an executive order aimed at boosting U.S. manufacturing; the U.S. steel sector’s capacity utilization rate during the week ending Jan. 23 reached 75.7%; and the Energy Information Administration expects energy-related carbon dioxide emissions to tick back up once again in 2021 and 2022 after […]
This Morning in Metals: Cleveland-Cliffs releases Q4 2020 results
This morning in metals news: Cleveland-Cliffs released its preliminary Q4 2020 results; demand for sustainable aluminum is rising in the maritime industry; and U.S. steel prices continue to rise. Cleveland-Cliffs revenue jumps Cleveland-Cliffs reported Q4 2020 revenues of approximately $2.2 billion to $2.3 billion. The total marked a 320% year-over-year jump. Meanwhile, the firm reported […]
General Motors to invest nearly $800M to build Canadian EV manufacturing plant
U.S. automaker General Motors is making a big investment toward electrification. The automaker recently announced plans to invest nearly $800 million to build what it referred to as “Canada’s first large-scale commercial electric vehicle plant.” Drive toward electrification Much has been made of Tesla’s head start in the race toward electrification. In short, traditional automakers […]
Week in Review: LME steel contracts; Thyssenkrupp’s spinoff effort; ‘green’ aluminum
Before we head into the weekend, let’s take a look back at the week that was in metals storylines here on MetalMiner, including Stuart Burns on LME steel contracts, the green revolution in aluminum and much more. Regarding the LME steel contracts, Burns noted, “For over 200 years, the London Metal Exchange (LME) has provided […]
This Morning in Metals: Aluminum Association lays out priorities for Biden administration
This morning in metals news: the Aluminum Association outlined the issues it hopes the Biden administration will take on; in addition, Alcoa recently reported its Q4 2020 and full-year results; and, finally, the oil price retraced slightly this week. Aluminum Association: aluminum can be part of ‘American comeback’ story The Aluminum Association laid out its […]
This Morning in Metals: U.S. housing starts jump in December
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 […]
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 […]
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 […]