While the first half of 2020 posed significant challenges for metals manufacturers and end users alike, some firms have showed signs of recovery in the ensuing months and into 2021. In the second quarter, steel demand suffered. Automotive manufacturers idled production in North America for a period of about two months last year, beginning in […]
Category: Company News
Ford goes ‘all-in’ on electric in Europe
After General Motors announced a series of electric vehicle and emissions targets last month, it is unsurprising that similar announcement from competitors have followed. Today, Ford Motor Co. announced plans to charge ahead with its electrification plans in Europe. Earlier this month, Ford announced it would invest an additional $29 billion in electric and autonomous […]
This Morning in Metals: Novelis unveils high-strength automotive aluminum
This morning in metals news: Novelis announced the commercial availability of a new class of high-strength automotive aluminum; meanwhile, the United States Geological Survey updated its Mineral Deposit Database for niobium; and the global aluminum market surplus more than tripled from 2019 to 2020. Novelis announces new high-strength automotive aluminum Atlanta-based Novelis today announced it […]
ArcelorMittal steel output drops by one-fifth in 2020
Impacts from the COVID pandemic and asset sales saw ArcelorMittal report a 20.4% decline in its crude steel production in 2020. “The countries worst affected by COVID were the ones that saw drops in their production,” one industry watcher added about lower production at the group’s assets in Europe, Brazil and the United States. ArcelorMittal […]
This Morning in Metals: February 2021 MMI report is out
This morning in metals news: the February 2021 Monthly Metals Index (MMI) report is out; meanwhile, US steel capacity utilization reached 76.9%; and, lastly, Rusal recently announced the acquisition of a German aluminum producer. February 2021 MMI report As regular readers know, we have published all 10 of our Monthly Metals Index (MMI) articles over […]
This Morning in Metals: Copper price surges after January cooldown
This morning in metals news: the copper price is on its way back up again; meanwhile, Rio Tinto reached a new power agreement for its ISAL aluminum smelter; and, lastly, oil prices continue to rise. Copper price surges After a sleepy January, copper prices are back on the ascent. The LME three-month copper price closed […]
Renewables/GOES MMI: US renewable energy electricity generation to double by 2050
The Renewables Monthly Metals Index (MMI) rose by 4.4% this month, as the Energy Information Administration released a forecast on renewable energy. (Editor’s note: This report also includes the MMI for grain-oriented electrical steel, or GOES.) Renewable energy growth in the US US electricity generation from renewable energy sources is forecast to double over the […]
This Morning in Metals: General Motors grapples with semiconductor supply challenges
This morning in metals news: automaker General Motors is facing challenges related to semiconductor supply; meanwhile, Oslo-based Norsk Hydro reported its Q4 2020 financial results; and, lastly, the oil price continues to tick up. Semiconductor supply End users across sectors are dealing with material shortage challenges. The automotive sector is no different. This week, General Motors […]
This Morning in Metals: December steel shipments jump 4.4%
This morning in metals news: December steel shipments rose by 4.4%; meanwhile, miner BHP announced plans to work with Japanese steelmaker JFE to study how to reduce greenhouse gas emissions from the steelmaking process; and, lastly, the copper price has bounced back after a January lull. Steel shipments rise in December US steel shipments rose […]
Daimler to spin off trucks division, rebrand as Mercedes-Benz
Ola Källenius, boss of Mercedes-Benz owner Daimler, made some interesting comments this week, as reported in a Financial Times article. The automaker is setting an end-of-decade target for Mercedes-Benz’s profits from its electric vehicles to equal that of its internal combustion engines. Källenius fed the investor market with good news from a brand that managed […]
