Although demand and overall economic activity in China has begun to recover in recent weeks, overall global steel production in May remained down compared with May 2019 levels.
Category: Metal Prices
Chinese construction steel prices dip amid cluster of new coronavirus cases
As much as China would have the rest of the world believe it has the coronavirus beat, both the authorities and the economy are acutely sensitive to the possibility of a resurgence.
This Morning in Metals: Ford employees could get chance to continue working remotely
This morning in metals news, thousands of Ford Motor Co. employees who have been working remotely as a result of the coronavirus pandemic might be allowed to continued doing so during the remainder of the year, Chinese coal imports dropped in May and Chinese steel rebar prices lost some ground on oversupply concerns.
This Morning in Metals: U.S. import prices rise 1.0% in May
This morning in metals news, the Bureau of Labor Statistics reported prices of U.S. imports increased in May, Alcoa will begin the formal process of dismissing employees at the San Ciprián aluminum smelter, and India wants its oil and gas producers to use more domestically produced steel.
Chinese aluminum semi-finished product exports continue to fall
As we predicted last week, the LME to SHFE arbitrage window has closed. Investors were unlikely to leave that open for long and the resulting inflow of half a million tons of aluminum in May no doubt contributed to a narrowing of the delta.
Stainless MMI: LME nickel prices grow for second consecutive month
The Stainless Monthly Metals Index (MMI) held flat this month.
Renewables/GOES MMI: Central U.S. sets spring wind power generation records
The Renewables Monthly Metals Index (MMI) fell 2.1% this month. (Editor’s Note: This report also includes coverage of grain-oriented electrical steel.)
Week in Review: Haulage faces roadblocks; copper rallies; Chinese steel demand recovers
Let’s take a look back at the week that was and some of the metals storylines here on MetalMiner:
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.