It’s hard to believe we are already approaching the end of August — but here we are. In the short term, this week saw coverage of a variety of issues. Stuart Burns tackled Chinese stainless steel consolidation earlier this week. Furthermore, he delved into a reversal of longer-term trends in flows of steel oversupply. We’re […]
Fouad Egbaria
Global aluminum output rises to 5.45M tons in July
Several metals prices have been on the rise this year, powered in part by China’s demand recovery (among other factors, including a weakening dollar). Copper, in particular, has been a fast riser this year. Aluminum, however, has not been as strong. Over the last month, the LME three-month aluminum price has gained 4.62%, according to […]
This Morning in Metals: Iron ore price surges to six-year high
This morning in metals news: iron ore prices continue to rise; the United States International Trade Commission (USITC) voted to continue investigations related to imports of seamless standard, line and pressure pipe; and Rio Tinto’s Kennecott mine is the first to receive the Copper Mark award. Stay up to date on MetalMiner with weekly, monthly, […]
ICSG: Copper mine production down 2.2% through first five months of 2020
After coming in at comparable levels to last year through the first four months of this year, global mine production fell in May. The International Copper Study Group (ICSG) reported global copper mine production had dropped by 2.2% through the first five months of the year compared to the equivalent period in 2019. Concentrate production […]
This Morning in Metals: U.S. steel imports down 19%
This morning in metals news: U.S. steel imports for the year through July fell 19%; Zambia is looking to take over Glencore copper mines in the country; and Brazil’s Vale has opened an iron ore grinding hub in China. We’re offering timely emails with exclusive analyst commentary and some best practice advice – and you […]
U.S. steel imports surge in July, powered by surge from blooms, billets and slabs
U.S. steel imports picked up in July, the U.S. Census Bureau reported in its monthly steel import data release today. U.S. imports of steel reached an estimated 2.4 million metric tons in July, nearly doubling the 1.3 million metric tons imported the previous month. Are you prepared for your annual steel contract negotiations? Be sure […]
This Morning in Metals: Nevada Copper restarts production at Pumpkin Hollow
This morning in metals news: Nevada Copper announced it had restarted production at its underground Pumpkin Hollow mine; zinc prices have received a boost from surging Chinese steel demand; and Norsk Hydro last week announced the suspension of operation of the Paragominas-to-Alunorte bauxite pipeline. We’re offering timely emails with exclusive analyst commentary and some best […]
World Steel Association: Global steel output drops 2.5% in July
Despite China’s ramping up of its steel output, global steel output declined in July 2020. According to the most recent reporting from the World Steel Association, global crude steel production fell 2.5% in July on a year over year basis. Production for the month totaled 152.7 million metric tons, according to the World Steel Association. […]
This Morning in Metals: LME copper inventories fall to 13-year low
This morning in metals news: according to Reuters, LME copper inventories fell to a 13-year low; July unemployment rates fell in 30 states; and the WTI crude price rose slightly last week. Want more from MetalMiner? We offer exclusive analyst commentary in our weekly, monthly, or quarterly updates – all metals, no sales fluff. Sign […]
ILZSG: Global lead, zinc supplies post surpluses through first half of 2020
The global lead and zinc markets posted supply surpluses during the first half of the year, the International Lead and Zinc Study Group (ILZSG) reported late last week. See why technical analysis is a superior forecasting methodology over fundamental analysis and why it matters for your metals buy. Lead supply exceeds demand by 78kt The […]