This morning in metals news: copper prices gained momentum Wednesday; the rival of German steelmaker Thyssenkrupp rejected the idea of an alliance; and a Pakistani steelmaker is looking to ramp up its output amid a construction spike in the country. Stay up to date on MetalMiner with weekly, monthly, or quarterly updates – without the […]
Category: Metal Prices
RARE Act aims to mitigate U.S.’s rare earths dependence on China
In this month’s Rare Earths Monthly Metals Index (MMI) news: Texas Congressmen introduced the RARE Act; the European Commission unveiled its own raw materials action plan; and Chinese rare earths to the U.S. could plunge this year. The Rare Earths MMI gained 8.3% for this month’s MMI reading. Sign up today for Gunpowder, MetalMiner’s free, […]
Construction MMI: U.S. construction spending flat in July
The Construction Monthly Metals Index (MMI) gained 2.6% for this month’s MMI reading. We’re offering timely emails with exclusive analyst commentary and some best practice advice – and you choose how often you receive it. Sign up here. U.S. construction spending U.S. construction spending in July checked in at a seasonally adjusted annual rate of […]
Happy Labor Day 2020 from MetalMiner
To our U.S. readers, MetalMiner wishes everyone a happy and safe Labor Day weekend. The next several days will be busy ones here at MetalMiner. Keep an eye out for the release of our big Annual Outlook report, which offers a more expansive view of the various metals categories tracked in our Monthly Metal Outlook […]
Week in Review: China automotive sales; steel capacity utilization; steel scrap prices
Before we head into the long Labor Day weekend, let’s take a look back at the week that was in the world of metals. Automakers released August sales reports, mostly showing sales remain down compared with 2019 levels. Meanwhile, for the week ending Aug. 29, U.S. steel mills’ capacity utilization fell compared with the previous […]
Automotive MMI: With fewer selling days, August 2020 U.S. sales decline
The Automotive Monthly Metals Index (MMI) rose 4.7% for this month’s reading. We’re offering timely emails with exclusive analyst commentary and some best practice advice – and you choose how often you receive it. Sign up here. U.S. automotive sales Among automakers still reporting sales on a monthly basis, Honda reported its August sales fell […]
The case for firmer steel scrap prices
Pandemic-related lockdowns constrained the global scrap market earlier this year. Consequently, operations were restricted or closed down. But even as containments have eased, the market has been slow to come back — resulting in rising prices for steel and base metal scrap over the summer. Stop obsessing about the actual forecasted steel price. It’s more […]
Despite pandemic’s impact on production, Indian steel exports rise
India’s steel production contracted since the arrival of COVID-19. However, exports surprisingly notched a new high in the April-July 2020 period. Steels exports more than doubled in these months to hit their highest level in six years, reported news agency Reuters. Are you prepared for your annual steel contract negotiations? Be sure to check out […]
This Morning in Metals: Trump takes aim at steel imports from Mexico, Brazil
This morning in metals news: President Donald Trump this Monday took aim at steel imports from Mexico and Brazil; the American Iron and Steel Institute responded to the development; and copper price surged to a two-year high. 5 Mistakes Buyers Can Make When Sourcing Steel. Trump targets steel from Brazil, Mexico The Trump administration took […]
U.S. steel sector capacity utilization rate dips to 61.7% last week
After a long stretch of weekly increases, the U.S. steel sector’s capacity utilization rate fell last week. According to the American Iron and Steel Institute (AISI), U.S. steel mills produced at a capacity utilization rate of 61.7% for the week ending Aug. 29. The rate marked a decline from the 63.0% recorded for the week […]