When discussion of metals markets — indeed, any markets — considers likely price trends, it nearly always starts off looking in the rear-view mirror. Last year’s copper market suggests a bull market driven by vociferous Chinese demand. Imports surged after China relaxed its spring lockdown. Prices rose strongly, up some 48% on the LME from […]
Category: Non-ferrous Metals
This Morning in Metals: US mines produced $82.3 billion in minerals last year
This morning in metals news: US mines produced approximately $82.3 billion in minerals in 2020; meanwhile, the United States International Trade Commission launched a Section 337 investigation related to batteries; and, lastly, aluminum prices have been dropping. US mines produced $82.3 billion in minerals in 2020 US mines produced approximately $82.3 billion in minerals last […]
This Morning in Metals: Copper price slips to one-month low
This morning in metals news: the copper price fell to its lowest level in a month; US housing starts ticked up 5.8% in December; and China’s industrial profits rose 4.1% in 2020. Copper price dips to one-month low After surging in the second half of 2020, the copper price has slumped thus far in 2021. […]
Week in Review: General Motors shoots for carbon neutrality by 2040; copper price cools; December US steel imports rise
Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner. In sustainability news, Big 3 automaker General Motors said it intends to be carbon neutral in its operations by 2040. The automaker has also indicated it will offer 30 new all-electric models […]
Copper output down, long-term price rally takes January breather
The International Copper Study Group (ICSG) reported the global copper market posted an apparent deficit of 480,000 metric tons through the first 10 months of 2020. Global copper market in deficit, output down In addition to the global copper market deficit, the ICSG reported global copper mine production fell by 0.5% during the aforementioned period. […]
This Morning in Metals: Cleveland-Cliffs releases Q4 2020 results
This morning in metals news: Cleveland-Cliffs released its preliminary Q4 2020 results; demand for sustainable aluminum is rising in the maritime industry; and U.S. steel prices continue to rise. Cleveland-Cliffs revenue jumps Cleveland-Cliffs reported Q4 2020 revenues of approximately $2.2 billion to $2.3 billion. The total marked a 320% year-over-year jump. Meanwhile, the firm reported […]
This Morning in Metals: Aluminum Association lays out priorities for Biden administration
This morning in metals news: the Aluminum Association outlined the issues it hopes the Biden administration will take on; in addition, Alcoa recently reported its Q4 2020 and full-year results; and, finally, the oil price retraced slightly this week. Aluminum Association: aluminum can be part of ‘American comeback’ story The Aluminum Association laid out its […]
This Morning in Metals: U.S. housing starts jump in December
This morning in metals news: privately owned housing starts in the U.S. ticked up by 5.8%, according to the Census Bureau; new COVID-19 lockdown restrictions are impacting China’s major steel-producing region; and the primary aluminum market posted a surplus through the first 11 months of 2020. Housing starts jump in December Privately owned housing starts […]
This Morning in Metals: U.S. steel capacity utilization hits 76.7%
This morning in metals news: the U.S. steel sector’s capacity utilization rate hit 76.7% last week; the London Metal Exchange has proposed permanently closing its iconic Ring trading floor; and the copper price has trended flat over the past week. Steel capacity utilization reaches 76.7% The U.S. steel sector’s capacity utilization rate hit 76.7% for […]
What do China’s surging copper imports tell us about the economy for 2021?
China has had a fraction of the deaths and hospitalizations from the COVID-19 pandemic that Western societies have had. Furthermore, China had an economic bounceback that saw its GDP rise 2.3% last year. China’s bounceback The rebound has been impressive. Construction of new high-speed train lines to smaller provincial cities and new motorways connecting remote […]