This morning in metals news: Events in China are affecting the copper market; the London Metals Exchange may get a new member to its ring, the influential trading group that may be facing more changes itself; and look for our MMO today. Are you under pressure to generate steel cost savings? Make sure you are […]
Category: Global Trade
This Morning in Metals: China to auction crude oil from its strategic reserves
This morning in metals news: In a bid to aid domestic refiners currently limited by steep energy costs, China announced plans to auction crude oil from its strategic reserves. In other news, Shell declares force majeure as Hurricane Ida’s fallout continues. Also in the news, July steel shipments show 37% year over year rise. Cut-to-length […]
China-Australia iron ore trade surges ahead despite tensions
Diplomatic relations between China and Australia have been strained over the past year. However, that does not seem to have affected trade between the two nations. Stay up to date on MetalMiner with weekly updates – without the sales pitch. Sign up now. China-Australia trade After posting record exports in May and June 2021, Australia […]
This Morning in Metals: New orders for manufactured goods rise in July
This morning in metals news: new orders for manufactured goods posted an increase in July from the previous month; meanwhile, U.S. productivity rose by 2.1% in Q2 2021; and, lastly, the U.S. goods and services trade deficit fell from June to July. Want MetalMiner directly in your inbox? Sign up for weekly updates now. New […]
This Morning in Metals: Norsk Hydro to expand capacity at Sjunnen extrusion plant
This morning in metals news: Norsk Hydro plans to expand capacity at its Sjunnen aluminum extrusion plant; the Pilbara Ports Authority reported a decline in throughput in July; and, lastly, the United States International Trade Commission conducted a five-year sunset review on existing duty orders for carbon and alloy steel standard, line and pressure pipe […]
Week in Review: Shipping sector woes; oil prices fall; Toyota announces production cuts
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: Receive the latest short-term and long-term outlook for the full range of industrial metals (base and ferrous) at the annual MetalMiner Forecasting Workshop on Aug. 25. Week of Aug. 16-20 […]
China witnesses a decline in steel prices as emissions targets are eased
Despite all the media coverage and public proclamations, did we really believe China was going to force its massive steel industry to shutter capacity and retrench if it meant an impact on GDP growth? For a while it seemed as if they were going to follow through on their declarations. Certainly prices rallied strongly on […]
This Morning in Metals: Rio Tinto commits $2.4B in funding for Serbia lithium project
This morning in metals news: miner Rio Tinto said it had committed funding of $2.4 billion toward the Jadar lithium-borates project in Serbia; meanwhile, the U.S. international trade in goods deficit rose in June; and, finally, the United States International Trade Commission determined imports of metal lockers from China materially injure U.S. industry. Want MetalMiner […]
This Morning in Metals: Steelworkers reach tentative deal to end three-month ATI strike
This morning in metals news: the United Steelworkers union this week announced it had reached a tentative deal with Allegheny Technologies Inc. (ATI) to end a three-month strike; meanwhile, Ford China’s sales rose by 24% in the first half of the year; and, lastly, the U.S. and Mexico announced a course of remediation under the […]
Post-Brexit Britain aims to fulfill its commitments to free trade
In one of its first tests as a free trading global economy after Brexit, Britain achieved a middling mark this past week. Trade minister Liz Truss accepted its independent, newly established Trade Remedies Authority recommendation to scrap some quotas on imports that had been carried over from the European Union in 2019 prior to Brexit. […]
