Let’s take a look back at the week that was and some of the metals storylines here on MetalMiner:
Category: Ferrous Metals
Raw Steels MMI: Index climbs 4.7% as Chinese demand grows
The Raw Steels Monthly Metals Index (MMI) increased by nearly 4.7% this month. High expectations for steel demand recovery In late March, steel demand was hit hard by the decline in automotive sales amid the COVID-19 pandemic. As automakers began to restart their operations in early May, steel prices have seen some slight improvement, as […]
This Morning in Metals: Federal Reserve maintains federal funds rate at 0-0.25%
This morning in metals news, the Federal Reserve on Wednesday opted to maintain the federal fund interest rate at 0-0.25%, the Producer Price Index for final demand rose 0.4% in May and Chinese rebar futures fell Thursday.
World Steel Association forecasts 18% decline in Indian steel demand
Various agencies have pegged the contraction of Indian steel demand to come in anywhere between 14-18%. A new report by the World Steel Association has said India’s steel demand would fall by 18% in 2020, even as global steel demand was expected to drop to 6.4% because of the COVID-19 pandemic, the Financial Express reported.
Europe’s steel industry faces an unprecedented threat
President Donald Trump had scant regard, nor interest, in the impact his decision in 2018 to impose 25% import duties on steel products would have on other markets around the world — his focus was, reasonably enough, purely on the U.S.
This Morning in Metals: Aluminum Extruders Council demands end to aluminum import tariffs
This morning in metals news, the Aluminum Extruders Council has released a statement calling for the U.S. to rescind its aluminum import tariffs, U.S. raw steel production came in at a capacity utilization rate of 53.3% for the week ending June 6 and Thyssenkrupp plans to partners with RWE on technology aimed at curbing emissions […]
Week in Review: U.S.-China tensions; aluminum prices; aerospace struggles
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 Morning in Metals: Constellium signs 10-year deal with Airbus
This morning in metals news, Constellium has inked a long-term contract with plane manufacturer Airbus, the U.S. Department of Commerce has launched a Section 232 investigation related to imports of vanadium and Chinese rebar prices have reached a nine-year high.
U.S. steel mills post capacity utilization rate of 53.8% last week
The U.S. steel sector operated at a capacity utilization rate of 53.8% for the week ending May 30, the American Iron and Steel Institute (AISI) reported.
World Steel Association: April global crude steel production drops 13%
Global crude steel production in April fell 13% compared to April 2019 production, the World Steel Association recently reported.