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 week, we touched on the USMCA (which turned 1 on Thursday), Stuart Burns covered the relationship between inventory levels and metals demand, and much more. On the USMCA — […]
Category: Global Trade
This Morning in Metals: U.S. goods and services deficit ticks up in May
This morning in metals news: the U.S. goods and services deficit rose by $2.2 billion in May; meanwhile, new orders for manufactured goods rose in May; and, lastly, Ford Motor Co. released its June sales results. We’re offering timely emails with exclusive analyst commentary and some best practice advice. Sign up here. US goods and […]
USMCA hits one-year mark
Back on July 1, 2020, the United States-Mexico-Canada Agreement (USMCA) went into effect. The deal, reached during the Trump administration, began with negotiations aimed at the modernization of the 1994 North American Free Trade Agreement (NAFTA). Those negotiations kicked off in August 2017. More MetalMiner is available on LinkedIn. A year on: USTR remarks on […]
This Morning in Metals: USMCA Labor Council convenes for first time
This morning in metals news: as laid out in the United States-Mexico-Canada Agreement (USMCA), the USMCA Labor Council convened for the first time; meanwhile, the Energy Information Administration reported on potential electricity disruptions this summer; and, lastly, Rio Tinto declared force majeure at one of its operations. The MetalMiner Best Practice Library offers a wealth […]
Russia announces plan for metals tariffs
The metals markets received a jolt late last week with the news that Russia is considering applying export tariffs to steel, aluminium, copper, nickel and ferro alloys from this August through to at least the end of the year in order to ease metal supply and prices for domestic consumers. Each month, MetalMiner hosts a […]
In May, global production of crude steel surged by 16.5%.
Global crude steel production in May rose by 16.5% compared with May 2020, the World Steel Association reported this week. However, the gain marked a drop from the 23.4% year-over-year surge in April. In addition, as Stuart Burns noted yesterday, May output fell by 0.4% compared with April. Production jumped to 174.4 million metric tons […]
The steel market in both the United States and Europe continues to experience supply constraints
The steel market is running two diverging narratives. In the U.S., the market remains extremely tight. Mill lead times are out to the end of this year. Furthermore, prices are set to stay high into 2022. The situation is not dissimilar in Europe. In Europe, the steel market is seeing a similar post-pandemic bounceback, supply […]
This Morning in Metals: Court dismisses challenge to Section 232 duties on Canadian steel
This morning in metals news: the U.S. Court of International Trade granted defendants’ motion for partial dismissal of a challenge to the U.S.’s Section 232 duties on Canadian steel; the Midwest is the heart of U.S. wind capacity; and, lastly, U.S. Steel released its second-quarter guidance. Each month, MetalMiner hosts a webinar on a specific […]
Summary of the Week: Boeing-Airbus Conflict, Copper Price Trends, and Stainless Steel Demand
Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner: Stop obsessing about the actual forecasted nickel price. It’s more important to spot the trend. See why. Week of June 14-18 (Boeing-Airbus dispute, copper prices and much more) What will Britain’s trade […]
This Morning in Metals: Construction inputs rise 24.2% over last year
This morning in metals news: construction inputs have jumped by 24.2% from May 2020-May 2021; the United States-Mexico-Canada Agreement (USMCA) Environment Committee released its first joint statement; and, lastly, the U.S. dollar has strengthened this week. Each month, MetalMiner hosts a webinar on a specific metals topic. Explore the upcoming webinars and sign up for […]
