This morning in metals news: an aluminum trade group filed anti-dumping and countervailing subsidy petitions relating to imports of aluminum foil from five countries; the consultation period for Alcoa’s San Ciprián aluminum plant ended without an agreement on a social plan for workers; and the U.S. Census Bureau released August import and export data. The […]
Fouad Egbaria
Cleveland-Cliffs reaches $1.4B agreement to acquire ArcelorMittal USA
Cleveland-Cliffs Inc. has reached an agreement to acquire ArcelorMittal USA, the former announced Monday morning. Cliffs will acquire ArcelorMittal USA for approximately $1.4 billion. The deal is expected to close in the fourth quarter, “subject to the receipt of regulatory approval and the satisfaction of other customary closing conditions.” Cleveland-Cliffs (CLF) shares closed today at […]
This Morning in Metals: U.S. steel imports fall to 1.2M metric tons in August
This morning in metals news: U.S. steel imports plunged by more than half from July to August; copper price gains Monday were capped over concerns regarding long-term prospects; and the WTI crude oil price slipped. We’re offering timely emails with exclusive analyst commentary and some best practice advice – and you choose how often you […]
This Morning in Metals: Automotive retail sales forecast to gain for first time since February
This morning in metals news: U.S. automotive retails sales appear to be on the rise this month for the first time since February; U.S. steel imports are down 21%; and the zinc price has slipped nearly 4% over the past month. The MetalMiner 2021 Annual Outlook consolidates our 12-month view and provides buying organizations with […]
Week in Review: Oil stabilizes; copper output slips; steel capacity utilization retraces
The oil price’s stabilization, copper mine production and more — before we head into the weekend, let’s take a look back at the week that was. This week, Stuart Burns analyzed the oil market, which has seen price stabilization over the last three-plus months. However, less-than-uniform adherence to OPEC’s previously agreed upon oil output cuts […]
This Morning in Metals: Steel Dynamics releases Q3 earnings guidance
This morning in metals news: Steel Dynamics recently released its financial guidance for Q3; miner Ivanhoe Mines announced plans to double annual capacity at the Kakula copper mine; and lead prices have lost steam. The MetalMiner 2021 Annual Outlook consolidates our 12-month view and provides buying organizations with a complete understanding of the fundamental factors […]
Global copper mine production down 1% as prices continue to rise
As copper prices have continued to rise over the last six months, copper mine production has fallen. According to the International Copper Study Group (ICSG), copper mine production fell 1% during the first half of the year. Furthermore, the global copper market posted a deficit of 235,000 tons during the first half of 2020, according […]
This Morning in Metals: U.S. industrial production rises 0.4% in August
This morning in metals news: U.S. industrial production picked up in August; Nucor recently released its third-quarter guidance; and the Energy Information Administration broke down the impact of OPEC+’s output reductions. Want MetalMiner directly in your inbox? Sign up for weekly, monthly or quarterly updates. U.S. industrial production up 0.4% U.S. industrial production rose 0.4% […]
MetalMiner models shed light on the challenge of determining what products ‘should cost’
How much should your metals buy cost? It’s a simple question that doesn’t always have a simple answer — or, at the very least, an answer that’s easy to get. MetalMiner’s “should-cost” models aim to cut through the confusion and give buyers concrete ideas of what the products they’re buying should be costing them. The […]
This Morning in Metals: Copper price bounces back
This morning in metals news: the copper price bounced back Tuesday after a down Monday session; ArcelorMittal issued a statement on the European Commission’s policy proposals aimed at reducing emissions; and U.S. oil exports have fallen in each month since February. The MetalMiner 2021 Annual Outlook consolidates our 12-month view and provides buying organizations with […]