This morning in metals news, U.S. Steel shares are down over 10% this morning, U.S.-China trade talks resume and the Federal Reserve decided to cut its benchmark interest rate again yesterday. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook U.S. Steel Shares Down on Earnings Guidance U.S. Steel announced it […]
Category: Macroeconomics
This Morning in Metals: Federal Reserve Expected to Make Interest Rate Cut
This morning in metals news, the Federal Reserve is expected today to cut interest rates once again, the LME copper price dropped ahead of the Fed’s decision and Steel Authority of India Ltd. (SAIL) shares rose Tuesday. Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today! Federal […]
U.S. Housing Starts Fall 4% in July from Previous Month
According to the U.S. Census Bureau and the Department of Housing and Urban Development, privately owned housing starts in July fell 4.0% from the previous month, but rose 0.6% on a year-over-year basis. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook July housing starts reached a seasonally adjusted annual rate […]
This Morning in Metals: Iron Ore Prices Continue to Slide
This morning in metals news, iron ore prices this week have plunged, the Energy Information Administration (EIA) released its short-term energy outlook and China could weaken its currency further. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Iron Ore Prices Plunge After reaching five-year highs earlier this year, aided by […]
This Morning in Metals: U.S. Treasury Labels China a Currency Manipulator
This morning in metals news, the American Iron and Steel Institute (AISI) applauded the U.S. Treasury’s designation of China as a currency manipulator, U.S. companies are hoping the Trump administration does not impose tariffs on copper from the E.U. and Novelis announced its quarterly financial results. Need buying strategies for steel? Request your two-month free […]
Renminbi Cracks Seven for First Time Since Financial Crisis
The Chinese currency, the Renminbi, has been on a downward trend since the spring, apart from a brief recovery on the back of a resumption in trade talks. But this week the currency dropped through the psychologically important Rmb 7 to the dollar barrier, hitting 7.1114 — a level not seen in the 11 years […]
This Morning in Metals: Copper Falls to Two-Year Low on Trade Worries
This morning in metals news, the copper price fell to a two-year low, the value of the Chinese yuan fell past an important barrier and Rio Tinto offered an update on its Winu project. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Copper Plunges to Two-Year Low As trade worries […]
This Morning in Metals: EPA Reverses Ruling that Blocked Alaska Mining Project
This morning in metals news, the EPA reversed an Obama-era decision regarding an Alaskan mining project, the Federal Reserve issued its first rate cut since the financial crisis and a Chinese billionaire is alleged to have instituted a scheme to avoid $1.8 billion in tariffs on aluminum exported to the U.S. Need buying strategies for […]
June U.S. Housing Starts Down 0.9% from Previous Month
June housing starts in the U.S. fell 0.9% compared with May levels, according to the monthly housing start report by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook June housing starts reached a seasonally adjusted annual rate […]
This Morning in Metals: Powell Says Trade Tensions, Global Economy Weigh on U.S. Economic Outlook
This morning in metals news, Federal Reserve Chairman Jerome Powell hinted interest rate cuts could be coming later this month during testimony before the House of Representatives, Southern Copper Corp received authorization from the Peruvian government to build a $1.4 billion mine and U.S. steel shipments in May fell 0.8% from the previous month. Need […]
