Week in Review: Natural gas prices soar; China steel reduction; Aluminum prices
Before we head into the weekend, let’s take a look back at the news that was and some of the metals storylines here on MetalMiner: Soaring natural gas prices and inflation; China’s aims to further reduce steel output; Aluminum prices near a decade high, according to our Monthly Metals Index coverage. Look for the Copper MMI and more next week.
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News for the Week of August 2-6
- Tata steel to raise carbon surcharge on new contracts beginning Sept. 1.
- Union workers at Escondida mine reject BHP contract offer.
- MetalMiner’s Stuart Burns on soaring natural gas prices and inflation.
- ArcelorMittal announces $1.4B investment to slash carbon emissions at Ontario plant, MetalMiner’s Christopher Rivituso reports.
- Steel capacity utilization reaches 85%, and US energy intensity has declined by half since 1983.
- MetalMiner’s Sohrab Darabshaw on China’s aims to further reduce steel output.
- The ICSG estimated the global copper market in surplus through the first four months of 2021.
- Rio Tinto, Komatsu collaborate on zero-emission mining haulage solutions.
- Stuart Burns on the sizable arbitrage window between COMEX and the LME copper price.
- U.S. executive order for 50% zero-emissions vehicles by 2030.
- Construction spending rises in June and the Architecture Billings Index remains near a record high, MetalMiner Editor Fouad Egbaria explains in this month’s Construction Monthly Metals Index (MMI) report.
- Meanwhile, in this month’s Automotive MMI report, auto sales rise but are capped by lack of inventory.
- Our Aluminum MMI report from Analyst Maria Rosa Gobitz shows prices near a decade high.
- Lastly, the global semiconductor shortage may continue into next year and even 2023.
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