ArcelorMittal has strong prospects in the United States. This is even after the group sold in 2020 almost 14 million tons of integrated crude capacity to Cleveland-Cliffs. “It is one of the major steel markets, even though many steel plants in the United States have shut down in the past 10 years,” one analyst said. […]
Category: Ferrous Metals
ArcelorMittal Nippon Steel to build new steel plant for nearly $7 billion
ArcelorMittal Nippon Steel India Ltd (AM/NS) signed an agreement with the provincial government of Odisha in eastern India to build a US $6.88 billion steel mill. The proposed plant is a joint venture between ArcelorMittal and Nippon Steel, and will have a production capacity of 12 million tons per year. ArcelorMittal had to drop its […]
This Morning in Metals: March 2021 Annual Outlook update now available
This morning in metals news: MetalMiner’s March update to its Annual Outlook report is now available to subscribers; US steel capacity utilization reached 77.4% last week; and the United States Trade Representative announced the conclusion of WTO quota negotiations with the European Union. The MetalMiner Best Practice Library offers a wealth of knowledge and tips […]
Week in Review: Steel capacity; February US auto sales; OPEC meets
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, which this week includes coverage of steel capacity utilization, the latest OPEC ministerial meeting and much more. Overall, most base metals seem to be retracing from a late February peak. […]
This Morning in Metals: Senate confirms new secretary of commerce
This morning in metals news: the American Iron and Steel Institute (AISI) offered positive comments on the heels of the confirmation of the secretary of commerce; UK unions worry about the potential loss of thousands of jobs; and the Biden administration is taking a step back in the process toward an Arizona copper mine. AISI […]
Japan’s steel sector faces numerous challenges, from COVID-19 to global overcapacity
Japan’s steel sector is facing tumultuous times. But, in the short term, there are initial signs of it pulling through in 2021. Are you on the hook for communicating the company’s steel performance to the executive team? See what should be in that report. Pandemic impacts on Japan’s steel sector The COVID-19 pandemic contributed to […]
US steel capacity utilization ticks up to 77.2%
US steel mills churned out metal at a steel capacity utilization rate of 77.2% for the week ending Feb. 27, the American Iron and Steel Institute (AISI) reported. See why technical analysis is a superior forecasting methodology over fundamental analysis and why it matters for your steel buy. Steel capacity utilization gains Last week’s rate […]
This Morning in Metals: February US auto sales forecast to rise 3.3%
This morning in metals news: J.D. Power and LMC Automotive released their joint forecast on February US auto sales; meanwhile, US steel imports fell by 23% in January; and, lastly, Ford’s CEO urged the US government to support the implementation of electric vehicle applications. February US auto sales forecast to rise New-vehicle retail sales in […]
MSCI: US metals shipments down year over year but up from spring 2020 lows
Like other economic indicators, metals shipments in the US and Canada have come a long way since the bottoming out that occurred last spring (prompted by the onset of the coronavirus pandemic). According to the Metals Service Center Institute (MSCI), shipments have recovered both in the US and Canada. However, shipments in January still came […]
This Morning in Metals: Arconic reports 14% revenue decline, led by aerospace weakness
This morning in metals news: Arconic reported its fourth quarter and full-year 2020 financial results; meanwhile, the Census Bureau reported steel import totals; and, finally, hot rolled coil steel prices continue to rise. Arconic reports Q4, 2020 financial results Pittsburgh-based Arconic reported Q4 2020 revenues of $1.5 billion, up 3% from the previous quarter. However, […]