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, including: Cleveland-Cliffs’ acquisition of ArcelorMittal USA; a breakdown of the British automotive manufacturing sector’s struggles; the PSA–Fiat Chrysler merger; primary aluminum production; the U.S. steel capacity utilization rate; and Hurricane […]
Category: Ferrous Metals
This Morning in Metals: Hurricane Laura hits Gulf crude oil production
This morning in metals news: Hurricane Laura had the largest effect on Gulf of Mexico crude oil production of any hurricane since 2008, according to the Energy Information Administration (EIA); U.S. imports of standard pipe and tin plate from Thailand and China, respectively, surged from May-July; and tech companies could call the site of the […]
U.S. steel capacity utilization rate rises to 66.1%
The U.S. steel sector’s capacity utilization rate rose to 66.1% for the week ending Sept. 26, the American Iron and Steel Institute (AISI) reported. Are you under pressure to generate steel cost savings? Make sure you are following these 5 best practices! U.S. steel capacity utilization gains The rate marked a 1.6 percentage point jump […]
Amid rising metals export profile, could India be the next China?
No, we don’t mean that much-vaunted but still distant dream of India becoming a second China economically — the disparity expands rather than contracts with time — but rather could India become a pariah state after China in terms of feeling the pain of anti-dumping duties, quotas, and tariffs (particularly with respect to Indian metal […]
European steelmakers are at a challenging crossroads
Europe’s steel industry appears to be at a crossroads. Hurting before the coronavirus pandemic-induced lockdowns, the industry struggled with overcapacity, high costs, weak demand and competition from lower-cost sources (like China and Russia). The lockdowns decimated demand. Major consumers, like the automotive sector, which takes something like 20% of European production of flat-rolled steel, according […]
Cleveland-Cliffs reaches $1.4B agreement to acquire ArcelorMittal USA
Cleveland-Cliffs Inc. has reached an agreement to acquire ArcelorMittal USA, the former announced Monday morning. Cliffs will acquire ArcelorMittal USA for approximately $1.4 billion. The deal is expected to close in the fourth quarter, “subject to the receipt of regulatory approval and the satisfaction of other customary closing conditions.” Cleveland-Cliffs (CLF) shares closed today at […]
This Morning in Metals: U.S. steel imports fall to 1.2M metric tons in August
This morning in metals news: U.S. steel imports plunged by more than half from July to August; copper price gains Monday were capped over concerns regarding long-term prospects; and the WTI crude oil price slipped. We’re offering timely emails with exclusive analyst commentary and some best practice advice – and you choose how often you […]
This Morning in Metals: Automotive retail sales forecast to gain for first time since February
This morning in metals news: U.S. automotive retails sales appear to be on the rise this month for the first time since February; U.S. steel imports are down 21%; and the zinc price has slipped nearly 4% over the past month. The MetalMiner 2021 Annual Outlook consolidates our 12-month view and provides buying organizations with […]
India turns net exporter of steel to China amid weaker domestic demand
India turned a net exporter of steel to China (and other countries) during April-August 2020 for the first time in several years, credit rating agency CRISIL reported. See why technical analysis is a superior forecasting methodology over fundamental analysis and why it matters for your steel buy. India becomes net exporter amid domestic demand slump […]
This Morning in Metals: Copper price bounces back
This morning in metals news: the copper price bounced back Tuesday after a down Monday session; ArcelorMittal issued a statement on the European Commission’s policy proposals aimed at reducing emissions; and U.S. oil exports have fallen in each month since February. The MetalMiner 2021 Annual Outlook consolidates our 12-month view and provides buying organizations with […]