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. […]
Category: Ferrous Metals
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 […]
US steel imports dip in May, paced by drop in blooms, billets and slabs
U.S. steel imports fell to 2.3 million metric tons in May, the Census Bureau reported. The May import total marked a slight dip from the 2.4 million metric tons imported in April. Do you know the five best practices of sourcing metals, including steel? Steel imports decline in May U.S. steel imports fell to 2.3 […]
The steel market in both the United States and Europe continues to experience supply constraints
The steel market is running two diverging narratives. In the U.S., the market remains extremely tight. Mill lead times are out to the end of this year. Furthermore, prices are set to stay high into 2022. The situation is not dissimilar in Europe. In Europe, the steel market is seeing a similar post-pandemic bounceback, supply […]
Today’s Metal News: US steel capacity utilization climbs to 82.9%.
This morning in metals news: the U.S. steel sector’s capacity utilization rate rose to 82.9% last week; Cleveland-Cliffs will demolish the site of the former AK Steel Ashland mill; and, lastly, the Energy Information Administration sees higher natural gas prices in the year ahead. The MetalMiner Best Practice Library offers a wealth of knowledge and […]
Summary of the Week: Boeing-Airbus Conflict, Copper Price Trends, and Stainless Steel Demand
Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner: Stop obsessing about the actual forecasted nickel price. It’s more important to spot the trend. See why. Week of June 14-18 (Boeing-Airbus dispute, copper prices and much more) What will Britain’s trade […]