This morning in metals news: miner Vale released its Q3 2020 production results; the Can Manufacturers Institute announced it will release grants in 2021 for aluminum can capture equipment; and, finally, U.S. crude oil inventories remain elevated. Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more. Vale iron ore output […]
Category: Commodities
Goldman Sachs bullish for commodities in 2021
Goldman Sachs came out with a bullish report to investors last week predicting a surge in the price of commodities over the 2021-2025 period, Reuters reported. The MetalMiner 2021 Annual Outlook consolidates our 12-month view and provides buying organizations with a complete understanding of the fundamental factors driving prices and a detailed forecast that can be […]
This Morning in Metals: U.S. Steel announces startup of EAF in Alabama
This morning in metals news: U.S. Steel on Monday announced the startup of a new electric arc furnace (EAF) in Fairfield, Alabama; WTI crude dipped below $39 per barrel; and the International Aluminum Institute released global alumina production data. The MetalMiner 2021 Annual Outlook consolidates our 12-month view and provides buying organizations with a complete […]
This Morning in Metals: Global groups renew call to target steel overcapacity
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 […]
This Morning in Metals: U.S. steel capacity utilization rate rises to 67.9%
This morning in metals news: the U.S. steel sector’s capacity utilization rate for the week ending Oct. 10 reached 67.9%; copper prices dropped Tuesday; and global liquid fuel outages increased in 2020, according to the Energy Information Administration. The MetalMiner 2021 Annual Outlook consolidates our 12-month view and provides buying organizations with a complete understanding […]
This Morning in Metals: U.S. aluminum sheet tariff targets countries besides China; Hurricane hampers oil, gas; Caterpillar targets driverless machinery for COVID era
U.S. adds aluminum sheet tariffs to 18 countries The U.S. is imposing tariffs on aluminum sheet imports from array of countries that the Commerce Department sees as trying to exploit the lack of Chinese aluminum in the U.S. market after tariffs were placed on it in 2018, according to USAToday. The tariffs “will range […]
This Morning in Metals: U.S. steel prices continue upward movement
This morning in metals news: U.S. steel prices have made significant gains in recent weeks; exports of liquefied natural gas (LNG) from two key Louisiana export terminals have resumed after Hurricane Laura; the coronavirus pandemic has impacted tin production in Bolivia. Do you use cost breakdowns in your steel negotiations? See other tips in negotiating […]
Oil majors struggle in low-price, low-demand environment
The oil majors are not having a great pandemic. Consumers reacted to earlier lockdowns and continued pandemic restrictions, leading to a massive drop in demand. On the other hand, prices initially collapsed after Saudi Arabia led an assault on the U.S. shale market and engaged in a spat with Russia over prices. Set that against […]
This Morning in Metals: Global alumina production rises in August
This morning in metals news: global alumina production rose 2.7% year over year in August; China’s industrial profits fell through the first eight months of the year; and nickel prices have taken a dive over the last month. Check if your service center is providing you with price transparency for your aluminum spend. Global alumina […]
This Morning in Metals: Brazil’s iron ore exports surge
This morning in metals news: Brazil’s iron ore exports are on the rise; Outokumpu last week announced the initiation of a turnaround plans for its long products business area; and, finally, the world’s first marine superchargers will use recycled aluminum from Norsk Hydro. Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis […]