This morning in metals news, the Aluminum Association sent a letter to U.S. Trade Representative Robert Lighthizer restating its support for exemptions to the Section 232 tariffs on imported aluminum, ground preparation has begun for a new electric vehicle battery cell production facility in Lordstown, Ohio, and the E.U. has disbursed a loan of €75 […]
Category: Metal Prices
Steel Authority of India Ltd. looks to export market as domestic demand drops
Once, it used to be a major supplier of steel for most of India’s domestic consumers. But with COVID-19 and its subsequent lockdowns and the almost overnight disappearance of the steel market, the public company Steel Authority of India Ltd (SAIL) finds itself painted into a corner.
Stainless price rises offer a hint of support for nickel
Nickel prices have seen support in recent months more from supply-side concerns. Initially, support came from bringing forward of Indonesia’s raw material export ban. More recently, support came from concerns the coronavirus pandemic would shut down mines in the Philippines and Indonesia, in addition to disruption of shipping to top consumer China.
Novelis loses Lewisport in approval of Aleris deal
It was never going to be a straightforward takeover. India’s Aditya Birla Group as the owner of Hindalco — and, therefore, Novelis — cemented its position as the world’s largest producer of value-added aluminium products with the completion of the USD 2.8 billion acquisition of Aleris last year. However, approval from the U.S. Justice Department […]
Week in Review: Aluminum tariffs; oil prices; Indian iron ore exports
Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner, including coverage of: copper prices, the automotive sector’s push to restart production, oil prices and more. Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights […]
This Morning in Metals: Copper headed for weekly price drop
This morning in metals news, copper prices were up Friday but expected to be down for the week, Rusal says the aluminum market recovery could stretch into next year and JW Aluminum’s CEO weighed in on potential impacts of the COVID-19 pandemic on U.S. businesses’ sourcing strategy.
Renewables/GOES MMI: First Cobalt releases positive feasibility study for North American cobalt plant
The Renewables Monthly Metals Index (MMI) fell 1.0% this month. (Editor’s Note: This report also includes coverage of grain-oriented electrical steel.) First Cobalt, Glencore to open North American cobalt supply plant Canadian firm First Cobalt and miner Glencore plan to bring a new cobalt plant to North America, one that will supply the electric vehicle sector, the […]
Stainless MMI: Index ticks up 4.8% as demand in China begins to recover
The Stainless Monthly Metals Index (MMI) rose 4.8% this month.
Raw Steels MMI: Steel sector eyes demand pickup as automakers prepares to restart production
The Raw Steels Monthly Metals Index (MMI) held flat this month.
This Morning in Metals: U.S. steel shipments drop 6.3% in March
This morning in metals news, U.S. steel shipments fell in March, Chinese stainless steel futures surged to a nine-month high and BHP made its first yuan-denominated sale of iron ore to China’s Baosteel.