This morning in metals news: global steel groups renewed calls for the Global Forum on Steel Excess Capacity to continue its work targeting steel overcapacity; Freeport-McMoRan released its Q3 financial results; and, finally, U.S. natural gas exports to Mexico have increased. Stop obsessing about the actual forecasted steel price. It’s more important to spot the […]
Fouad Egbaria
ILZSG: Lead and zinc demand forecast to drop 6.5%, 5.3%
The International Lead and Zinc Study Group (ILZSG) forecast global lead and zinc demand will decline by 6.5% and 5.3%, respectively, this year. Meanwhile, ILZSG forecast lead and zinc demand will rise by 4.4% and 6.6%, respectively, in 2021. The MetalMiner 2021 Annual Outlook consolidates our 12-month view and provides buying organizations with a complete […]
This Morning in Metals: General Motors to invest $2B to transition Tennessee plant for EVs
This morning in metals news: General Motors will invest $2 billion to transition its Tennessee plant for the production of electric vehicles (EVs); Rio Tinto announced its Q3 2020 production results; and Norsk Hydro has made a deal to merge part of its hydropower generation with that of Lyse. The MetalMiner 2021 Annual Outlook consolidates […]
September 2020 housing starts surge 11.1% year over year
September 2020 housing starts in the U.S. got a big boost on a year-over-year basis, the Census Bureau and Department of Housing and Urban Development reported. Privately owned housing starts increased 11.1% in September 2020 compared with September 2019. The MetalMiner 2021 Annual Outlook consolidates our 12-month view and provides buying organizations with a complete […]
This Morning in Metals: Global aluminum production hits 5.42M tons in September
This morning in metals news: the International Aluminum Institute released global aluminum production totals for September; the U.S. International Trade Commission (USITC) made duty determinations in the investigations related to imports of prestressed concrete steel wire strand; and September unemployment rates fell in 30 states. The MetalMiner 2021 Annual Outlook consolidates our 12-month view and […]
U.S. steel sector capacity utilization rate rises to 69.4%
The U.S. steel sector continued to show incremental gains in capacity utilization last week. Capacity utilization by U.S. mills rose to 69.4% for the week ending Oct. 17, 2020, according to the American Iron and Steel Institute (AISI). See why technical analysis is a superior forecasting methodology over fundamental analysis and why it matters for […]
Federal Reserve: September 2020 industrial production slides 0.6%
The Federal Reserve reported September 2020 industrial production slipped 0.6% in September. While not a precipitous drop, the September drop broke a streak of four straight months of gains. Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more. September 2020 industrial production still below pre-pandemic levels According to the Fed, […]
This Morning in Metals: LME copper up, SHFE copper drops
This morning in metals news: LME copper gained Monday while SHFE copper retraced; the Pilbara Ports Authority recently released September shipping figures; and top copper producer Chile marks the one-year anniversary of widespread protests. The MetalMiner 2021 Annual Outlook consolidates our 12-month view and provides buying organizations with a complete understanding of the fundamental factors […]
This Morning in Metals: Ford’s China sales rise by greatest amount since 2016
This morning in metals news: Ford’s China sales posted their largest year-over-year increase in Q3 since 2016; overall automotive sales in China gained 12.8% year over year; and Liberty Steel Group announced it has made an offer to acquire German firm Thyssenkrupp’s steel business. Does your company have an aluminum buying strategy based on current […]
Week in Review: Nickel market; China’s economic recovery; October MMI report
Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner, including: the nickel market; aluminum prices on the SHFE and LME; China’s metals rebound; and much more. Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more. Week […]