This morning in metals news: Rio Tinto and Meridian Energy have reached a deal that will allow New Zealand’s Aluminum Smelter to continue operating the Tiwai Point aluminum smelter; BHP unveiled plans to build a new wind fence; and the Energy Information Administration (EIA) forecasts U.S. oil and natural gas production will fall this year. […]
Category: Commodities
Raw Steels MMI: Index increases by double digits as steel prices gain to close 2020
The Raw Steels Monthly Metals Index (MMI) increased by 16.5% this month, as steel prices showed strength in December. U.S. steel events The American Iron and Steel Institute, the Steel Manufacturers Association, the United Steelworkers union, the Committee on Pipe and Tube Imports and the American Institute of Steel Construction sent a letter to Joe […]
Have we already seen peak iron ore prices for this year?
Iron ore — or at least iron ore producers — have had a pretty good pandemic. Get social with us. Follow MetalMiner on LinkedIn. Recovering iron ore output In Brazil, historic environmental restrictions and, at least in Q1 2020, heavy rains hampered Vale’s operations. In addition, the miner faced an ongoing impact on its workforce due […]
This Morning in Metals: E.U. hits Turkish iron, steel with duties
This morning in metals news: new E.U. duties on iron and steel imports from Turkey take effect today; meanwhile, the Aluminum Association commented on President-elect Joe Biden’s nomination for the post of secretary of commerce; and natural gas prices fell to their lowest levels in decades last year. Cut-to-length adders. Width and gauge adders. Coatings. […]
Tensions simmer between China, Australia over coking coal import ban
Nobody yet is quite sure whether Australia and China’s spat over coking coal imports will eventually turn out to be a case of bad politics making good economics or bad economic sense making for good politics. While politics between China and Australia is part of the reason for the former to have completely banned the […]
This Morning in Metals: U.S. average retail gas price dropped to lowest since 2016 last year
This morning in metals news: U.S. average gas prices fell to their lowest level since 2016 last year; the U.S. Treasury announced sanctions against Iran’s steel industry; and Ford Motor Co. released its Q4 2020 U.S. sales results. Cut-to-length adders. Width and gauge adders. Coatings. Feel confident in knowing what you should be paying for […]
After a difficult 2020 for oil, could it bounce back in 2021?
The oil price is caught between a short-term recovery and the medium-term prospect of peak oil, as countries ramp up programs to decarbonize by switching power generation sources and banning internal combustion engines (ICE). The oil price has been seesawing between vaccine optimism and pandemic pessimism. Yet, it has managed a gradual recovery from its […]
This Morning in Metals: Ford, Mahindra end joint venture talks
This morning in metals news: Ford Motor Co. and Mahindra announced the mutual decision to end joint venture talks; the Energy Information Administration released its quarterly coal report; and, finally, the zinc price has retraced. Become part of the MetalMiner LinkedIn group and stay connected to trends we’re watching and interesting metal facts. Ford, Mahindra […]
Reliance, BP begin production from deepwater gas field off India’s east coast
The beginning of production at what is now Asia’s deepest offshore natural gas field will increase the share of natural gas India’s energy basket. Become part of the MetalMiner LinkedIn group and stay connected to trends we’re watching and interesting metal facts. India set to strengthen natural gas production A few days ago, Reliance Industries […]
What will 2021 look like for commodities, equities and the dollar?
When Jim O’Neill, former chairman of Goldman Sachs Asset Management and a former U.K. treasury minister, posts his thoughts on what 2021 may bring for equities, commodities and the dollar, it is worth taking a few minutes to listen. Few economists have his level of both academic and practical experience in global financial markets. Over […]