China’s steelmaking raw materials and finished steel markets are in a real state of flux at the moment. Receive the latest short-term and long-term outlook for the full range of industrial metals (base and ferrous) at the annual MetalMiner Forecasting Workshop on Aug. 25. Recovery and a new dynamic impacting steel prices On the one […]
Category: Ferrous Metals
Russia’s metal export duty a ‘broadside shot’
Russia’s plan to introduce from Aug. 1 a temporary export duty on metal exports has brought varied reactions from European industry watchers and market participants. “It’s about showing the strength of the Russian metals industry,” one analyst told MetalMiner. Russia’s planned tariff may also be a retaliatory measure against Europe and its proposed carbon tax […]
This Morning in Metals: U.S. steel capacity utilization rises to 83.0%
This morning in metals news: U.S. steel capacity utilization rose to 83.0% last week; meanwhile, the U.S. Department of Commerce is now requiring and collecting aluminum import licenses; and, lastly, General Motors said it will source U.S.-based lithium. The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on […]
India steel production rises as companies commission new projects
India’s steel story continues to grow in 2021. New plants are being commissioned and major steel companies are reporting growth in production, too. India’s leading producer, Tata Steel, for example, has reported in the current quarter of fiscal year 2022, production of 4.62 million tons against 2.99 million in the same period last year. Are […]
This Morning in Metals: US fossil fuel consumption drops to lowest in nearly 30 years in 2020
This morning in metals news: U.S. fossil fuel consumption last year fell to its lowest level in nearly 30 years; nonfarm payroll employment rose by 850,000 in June; and, lastly, the American Iron and Steel Institute commented on the House’s INVEST in America Act. Each month, MetalMiner hosts a webinar on a specific metals topic. […]
Week in Review: USMCA turns 1; metal inventory levels; EU steel safeguards
Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner. This week, we touched on the USMCA (which turned 1 on Thursday), Stuart Burns covered the relationship between inventory levels and metals demand, and much more. On the USMCA — […]
EU extends steel safeguards for three more years
In an anticipated move, the European Union has published its decision to extend its steel safeguards for three more years. EU members voted on the extension June 18 and it published the implementing regulation June 28. The safeguards will extend from July 1, 2021, to June 30, 2024. “The initial safeguard measure was introduced in […]
This Morning in Metals: USCIT votes to affirm Commerce’s AD duty determinations on Korean steel pipes, tubes
This morning in metals news: the U.S. Court of International Trade voted to affirm the duty levels set by the Department of Commerce with respect to heavy walled rectangular steel pipes and tubes from Korea; meanwhile, U.S. distillate demand returned more quickly than gasoline and jet fuel demand; and, lastly, the copper price has bounced […]
The utilization rate of steel capacity in the United States has reached 82.7%
U.S. steel capacity utilization reached 82.7% for the week ending June 26, the American Iron and Steel Institute reported Monday. Each month, MetalMiner hosts a webinar on a specific metals topic. Explore the upcoming webinars and sign up for each on the MetalMiner Events page. Steel capacity utilization takes small step back However, U.S. steel […]
In May, global production of crude steel surged by 16.5%.
Global crude steel production in May rose by 16.5% compared with May 2020, the World Steel Association reported this week. However, the gain marked a drop from the 23.4% year-over-year surge in April. In addition, as Stuart Burns noted yesterday, May output fell by 0.4% compared with April. Production jumped to 174.4 million metric tons […]
