It would seem the stock markets are not the only beneficiaries of good news on the results and roll-out of vaccines protecting against the coronavirus. The oil price has been a significant beneficiary too, briefly touching the highest level since March this week, before easing slightly. According to the FT, Brent crude gained 3.8% to […]
Category: Global Trade
China’s steel output set to top a billion tons this year
If we were worried about China’s dominance of global steel output over the last decade, the next decade is looking like it may be even worse. Having bounced back robustly this year from severe coronavirus lockdowns in Q1, China is on track to top 1 billion tons of steel production by the end of 2020, […]
Week in Review: Tata Steel looks to sell European assets; steel capacity rises; Nucor signs power purchase agreement
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 Tata Steel and its attempt to spin off its European assets, the U.S.’s rising steel capacity utilization rate, China’s economic recovery and its impact on metals prices, and much […]
Major RCEP trade deal goes ahead with China — and without the U.S.
We all remember the Obama-era Trans-Pacific Partnership (TTP) trade deal, right? The trade deal the U.S. withdrew from in early 2017 after President Donald Trump called it a disaster for American workers? Well, Australia, Japan, and nine other countries went ahead with it, lowering tariffs and bolstering trade within the region. But, crucially, TTP did […]
India, U.S. absent from massive RCEP trade pact
It took about eight years to negotiate the details, but eventually 15 nations from the Asia Pacific belt signed on the dotted line on the Regional Comprehensive Economic Partnership (RCEP) earlier this week. Missing from the deal, however, were the United States and India from the agreement. The pact seeks to lower tariffs and open […]
China’s steel trade is returning to form as import-export balance recalibrates
We wrote last month how China’s rapid recovery from the COVID-19 pandemic resulted in the country importing semi-finished products for which it previously had been self-reliant or even a net exporter for the last decade. Some steel products and primary aluminum swung into becoming significant net inflows for the economy during the summer months. But […]
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 […]
The case for globalization is on shakier ground
The widely, if not universally, held belief that globalization is a win-win panacea for growth has never looked shakier. While President Donald Trump has led the charge on calling out the failings of unfettered engagement with China and all that entails in terms of loss of manufacturing capability and sharing of hard-won technology, he is […]
This Morning in Metals: U.S. Steel’s Q3 guidance features $100M loss
This morning in metals news: U.S. Steel’s Q3 guidance included a $100 million loss despite improving conditions; the United States International Trade Commission (USITC) made a sunset review determination related to kitchen appliance shelving and racks; and a subsidiary of Norsk Hydro entered into a contract with Spanish aluminum company Alu Iberica. We’re offering timely […]
This Morning in Metals: U.S. steel capacity utilization rate rises to 65.1%
This morning in metals news: U.S. steel capacity utilization reached 65.1% for the week ending Sept. 12, the World Trade Organization released a report covering the U.S.’s Section 301 tariffs on Chinese goods; and the copper price approached a two-year high. Does your company have an aluminum buying strategy based on current steel price trends? […]
