This morning in metals news: Arconic reported its fourth quarter and full-year 2020 financial results; meanwhile, the Census Bureau reported steel import totals; and, finally, hot rolled coil steel prices continue to rise. Arconic reports Q4, 2020 financial results Pittsburgh-based Arconic reported Q4 2020 revenues of $1.5 billion, up 3% from the previous quarter. However, […]
Category: Metal Prices
Copper price continues to rise as supply tightens
The copper price has resumed its rise this month after taking a brief pause in January. Meanwhile, on the supply side, tightening began last year and could exacerbate in the year ahead. Strong demand from China, lack of new mine investment and enthusiasm about copper’s role in the renewables revolution are all contributing to the […]
This Morning in Metals: US industrial production up 0.9% in January
This morning in metals news: US industrial production picked up in January; global aluminum output also rose in January; and, lastly, General Motors reported a milestone in the construction of a new battery cell manufacturing plant in northeast Ohio. US industrial production rises US industrial production rose by 0.9% in January, the Federal Reserve reported. […]
US steel capacity utilization rises to 77.0%, steel prices continue to rise
The US steel sector capacity utilization rate ticked up to 77.0% for the week ending Feb. 20, the American Iron and Steel Institute (AISI) reported. Steel capacity utilization gains US steel production during the week ending Feb. 20 totaled 1.75 million net tons, AISI reported. The total marked a 7.2% year-over-year decline. Furthermore, the weekly […]
What’s next for the former Trump administration’s aluminum tariff?
Whether the new Biden administration creates a more insightful or sophisticated approach to trade remains to be seen. But, if nothing else, a new administration is a chance for a reset on policies that have not worked as intended under a previous administration. Aluminum tariff policy The previous administration’s Section 232 tariffs on aluminum of […]
This Morning in Metals: Copper price rally continues
This morning in metals news: the copper price rally is going strong; meanwhile, Rio Tinto released its 2020 Annual Report; and, finally, Norilsk Nickel reported a fatal accident at one of its facilities. Copper price rally After a January lull, the copper price rally has resumed in February. The LME three-month copper price closed Friday […]
Copper price rises as the metal’s bull story continues
Copper seems to be a one-way bet the last six months. The copper price has risen from a low of $4,371 per metric ton in March last year to $8,631 per metric ton Friday on the LME. According to Reuters, Goldman Sachs and Citi are doubling down on their bull calls for the copper market. […]
Week in Review: Aluminum industry going greener; rare earths chess game; nickel, stainless dynamics
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 the aluminum industry and its efforts to curb emissions, China’s latest foray in the global rare earths chess game and much more: You want more MetalMiner on your terms. […]
Investment banks signal possible start of a commodities super cycle
Investment banks love a super cycle. It spurs irrational investment and sucks in unwary investors. Furthermore, it encourages passive funds to up their allocation, even if only by fractions of a percent. But with some $14 trillion invested in US equities alone, even a modest increase in passive investments into ETFs would reap significant rewards […]
Nucor forecasts Q1 2021 net earnings to best 2008 record
While the first half of 2020 posed significant challenges for metals manufacturers and end users alike, some firms have showed signs of recovery in the ensuing months and into 2021. In the second quarter, steel demand suffered. Automotive manufacturers idled production in North America for a period of about two months last year, beginning in […]
