When discussion of metals markets — indeed, any markets — considers likely price trends, it nearly always starts off looking in the rear-view mirror. Last year’s copper market suggests a bull market driven by vociferous Chinese demand. Imports surged after China relaxed its spring lockdown. Prices rose strongly, up some 48% on the LME from […]
Category: Ferrous Metals
India proposes to reduce duties on steel, stainless steel products
A budgetary proposal by the Indian government to reduce steel duties has divided the Indian steel sector. India proposes reduction in steel duties In her 2021 budget speech presented in parliament earlier in the week, Finance Minister Nirmala Sitharaman proposed reducing customs duty on imports of semi-flat steel. She proposed cutting the duy for the […]
This Morning in Metals: February 2021 Monthly Metal Outlook is out
This morning in metals news: the February 2021 MetalMiner Monthly Metal Outlook (MMO) report is out; the US steel sector’s capacity utilization rate reached 76.1%; and US industrial production rose in December. February 2021 Monthly Metal Outlook report available The February 20201 MetalMiner Monthly Metal Outlook (MMO) is now available. Readers will find news, analysis […]
Bullish China stainless steel market expected to continue in 2021
Stainless steel prices in Asia have plateaued for now. But most suggest this is a temporary slowdown in advance of the Chinese New Year holidays. Thereafter, the market is likely to continue its relentless rise of the last two years. China stainless steel market ramps up output According to ArgusMedia, China’s production, imports and consumption […]
Week in Review: General Motors shoots for carbon neutrality by 2040; copper price cools; December US steel imports rise
Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner. In sustainability news, Big 3 automaker General Motors said it intends to be carbon neutral in its operations by 2040. The automaker has also indicated it will offer 30 new all-electric models […]
This Morning in Metals: Changan Ford to manufacture Mach-E in China for local customers
This morning in metals news: Ford Motor Co. announced Changan Ford will manufacture the new all-electric Mach-E SUV in China for local customers; the U.S.’s monthly deficit declined from November to December; and U.S. steel imports fell by 21% last year. Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more. […]
China’s property market is a driver — and risk — for steel prices
Just about every review of growth in China — of steel prices or of iron ore demand — contains reference to China’s property market. Few countries in the world have a property sector that plays such a large and dynamic role in the country’s GDP. Furthermore, few have one that causes such concern among a […]
World Steel Association: Global crude steel production down 0.9% in 2020
After global crude steel production rose for four consecutive years, output declined last year, the World Steel Association reported Tuesday. Global crude steel production drops 0.9% in 2020 Global crude steel production fell by 0.9% in 2020 compared with 2019, the World Steel Association reported. Production had increased every year from 2015-2019. Output last year […]
This Morning in Metals: Biden signs executive order aimed at boosting federal procurement of U.S.-made products
This morning in metals news: President Joe Biden on Monday signed an executive order aimed at boosting U.S. manufacturing; the U.S. steel sector’s capacity utilization rate during the week ending Jan. 23 reached 75.7%; and the Energy Information Administration expects energy-related carbon dioxide emissions to tick back up once again in 2021 and 2022 after […]
This Morning in Metals: Cleveland-Cliffs releases Q4 2020 results
This morning in metals news: Cleveland-Cliffs released its preliminary Q4 2020 results; demand for sustainable aluminum is rising in the maritime industry; and U.S. steel prices continue to rise. Cleveland-Cliffs revenue jumps Cleveland-Cliffs reported Q4 2020 revenues of approximately $2.2 billion to $2.3 billion. The total marked a 320% year-over-year jump. Meanwhile, the firm reported […]