This morning in metals news, Chilean miner Antofagasta expects a bumper 2019, the reason why Elon Musk is using stainless steel to build a new SpaceX rocket and China is finding ways to avoid duties to get its stainless steel into India. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Antofagasta […]
Category: Ferrous Metals
Domestic Steel Prices Continue to Trend Downward
Domestic steel prices have been in a downtrend since August, when prices started to show the first signs of weakness. All forms of steel, except plate, have showed downward price momentum. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Historically, steel prices move lower during Q3 and part of Q4. […]
EUROFER Director General: Steel Safeguard Measures ‘Welcome’ but Could ‘Undermine’ Intended Function
Last week, E.U. member states voted to go ahead with new quotas on steel imports extending until July 2021. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Last July, the E.U. voted to impose provisional steel safeguards, which were allowed to remain in place for a maximum of 200 days […]
This Morning in Metals: China’s Daily Crude Steel Output Fell in December
This morning in metals news, China’s daily crude steel output slipped in December, miner Rio Tinto reported its fourth-quarter production results and Luxembourg-based Tenaris purchased a large stake in the Saudi Steel Pipe Company. Steel Output Slides China’s daily steel output for December fell to its lowest level since March, according to Reuters. Need buying […]
Indian Government Forecasts Up to $10B in Auto Sector Investment by 2023
In a late December report, the Indian government said it forecast the Indian automotive sector to attract between U.S. $8 billion and $10 billion in local and foreign investment by 2023. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook The Year End Review 2018 by the Ministry of Heavy Industries […]
This Morning in Metals: Chinese Iron Ore Futures Surge
This morning in metals news, Chinese iron ore futures hit their highest price point in 10 months, Turkey’s steel sector takes another hit, and copper and zinc hit their 2019 highs. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Iron Ore Rises Is optimism building vis-a-vis a potential resolution to […]
This Morning in Metals: Alcoa Reports 4Q, Full-Year 2018 Results
This morning in metals news, aluminum producer Alcoa Corporation reported its fourth-quarter and full-year 2018 results, India is considering a higher iron ore import duty and Shanghai steel futures moved up. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Alcoa Reports 4Q Earnings Pittsburgh-based aluminum producer Alcoa Corporation reported its […]
This Morning in Metals: E.U. Approves New Steel Safeguard Measures
This morning in metals news, the E.U. approved new steel import curbs extending until 2021 with a vote Wednesday, the copper price picked up as the U.S. dollar loses momentum and the United States Trade Representative (USTR) says it will set up a system for exclusions if the tariff rate increases on the $200 billion […]
U.S. Steel Sector’s Capacity Utilization Rate at Just Under 80% to Start 2019
Around the time that the Trump administration’s Section 232 tariffs on steel and aluminum were implemented last year, U.S. Commerce Secretary Wilbur Ross noted the administration’s goal of lifting steel and aluminum capacity to 80% (the level reflecting a healthy industry). Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Following […]
Mid-January Review: DBB Struggles to Recover Momentum
Base metals traded higher at the beginning of January. However, momentum appears to be weaker once again. The DBB index has shown weakness since June 2018, when it started this short-term downtrend. MetalMiner has recently revised its market outlook, advising buying organizations to closely follow how the index develops. Need buying strategies for steel? Request […]
