China became a net importer of steel for the second consecutive month in July. This happened despite its crude steel production rising 9% year on year and demand from infrastructure and construction remaining subdued. Are you prepared for your annual steel contract negotiations? Be sure to check out our 5 best practices. Demand drivers Several […]
Stuart Burns
China’s relentless march to global stainless steel dominance
The headline sounds somewhat melodramatic. But the numbers laid out in the World Bureau of Metal Statistics’s annual stainless steel report suggest the reality is not far from it. Upcoming negotiation on your stainless steel buy? Make sure you know how your service centers will negotiate with you. Domination of the stainless sector Asia in […]
Sanjeev Gupta’s Liberty House Group announces new acquisitions in France
After considerable speculation about the fate of two said-to-be strategic steel mills in northern France — left over from the rump of British Steel — Sanjeev Gupta’s GFG Alliance/Liberty House Group is reported in the Financial Times as being approved to take over the two plants. The French had refused to allow their sale to […]
European Commission launches investigation into flat-rolled aluminum from China
Following on from an investigation started in February, the European Commission has launched an anti-dumping investigation into imports of aluminum flat-rolled products from China. The trade group European Aluminium made the formal complaint to the European Commission. Stop obsessing about the actual forecasted aluminum price — it’s more important to spot the trend. Products included, […]
Supply-side worries are supporting the zinc, lead and copper prices
Zinc and lead are co-mined metals, often assessed in tandem. Zinc and copper, however, are less likely to be viewed as driven by the same fundamentals. Sentiment, yes. All the base metals can be influenced by the same narrative, such as currency strength or China demand. It is true to say both price drivers have […]
Iron ore price proving resilient despite slow global recovery
Seaborne iron ore prices have remained stubbornly high. Chinese demand and a stronger-than-expected Chinese recovery from the first-quarter lockdowns are driving prices. Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more. Recovering demand Demand collapsed in Q1 during the lockdown but has recovered rapidly in Q2, originally for flat-rolled products […]
Is silver pausing for a breather or has the market topped?
Silver’s rise has been meteoric since its low in mid-March. The precious metal’s surge has been particularly notable over the last month. Both gold and silver have benefited from cheap money, a weak dollar and stronger oil prices. The yield on the benchmark 10-year U.S. Treasury note is presently around 0.57%, while the oil price […]
First, Canadian aluminum … could U.S. target steel next for tariffs?
Following President Donald Trump’s reimposition of 10% import tariffs on Canadian aluminum, the U.S.’s northern neighbor is now sweating the possible reimposition of steel tariffs. The U.S. imposed the Section 232 tariffs in 2018. Eventually, the U.S. lifted them following the successful agreement of the United States-Mexico-Canada Agreement (USMCA). “I hear that they’re going to […]
Biden energy plan aims for net-zero emissions for electricity by 2035
Most of the focus on the upcoming presidential election has been around the handling of the coronavirus pandemic, choice of running mates and candidates’ reactions to protests centered around the BLM movement. Not surprisingly, such issues attract the headlines and, of course, matter for society at large. Policy has not taken center stage to the […]
Shipping services continue to see disruption and rate increases
Shipping freight rates continue to rise despite disruptions.
