This morning in metals news: the copper price inched upward Wednesday; U.S. coal-fired plants have been transitioning to natural gas; and Norilsk Nickel recently released its production results for the first half of the year.
Aluminum does appear to be having a surprisingly strong post-pandemic recovery — in China, at least.
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.
The copper price has been among the fastest risers among base metals this year, aided in large part by the economic recovery in China.
In its latest reporting, the International Copper Study Group (ICSG) noted the LME average cash price in June rose 9.7% from the previous month, up to $5,742.39/mt.
This morning in metals news: ArcelorMittal expressed some optimism in its markets for the remainder of the year; tin prices made significant gains in July; and Anglo American released its financial results for the first half of the year.
This morning in metals news: the Aluminum Association of Canada reported the country’s aluminum exports to the U.S. have declined; Great Lakes region steel production is down this year; and the International Tin Association commented on Yunnan province’s tin stockpiling initiative.
Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines on MetalMiner:
Global aluminum production by volume fell in June compared the previous month but was about flat on a daily production basis.
Production totaled 5.27 million tons in June, down from the 5.45 million tons produced in May, according to reporting this week by the International Aluminum Institute.
On a daily average basis, June production was 175,800 tons per day (compared with 175,700 tons in May).
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 coverage of silver prices, LME off-warrant stocks, cobalt-free lithium-ion batteries and more:
This morning in metals news: the United States International Trade Commission asked for an additional $2.75 million in its budget to help it toward implementation of the United States-Mexico-Canada Agreement (USMCA); the World Gold Council released its H1 2020 report; and U.S. beverage makers are grappling with an aluminum can shortage.