Industry News

Tesla’s Model 3. Source: Tesla

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: Tesla’s struggle between price competitiveness and battery range; supply chains amid the coronavirus outbreak; U.S. industrial production; zinc’s global supply deficit; and E.U.-U.K. trade talks.

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This morning in metals news, German firm Thyssenkrupp announced the sale of its elevator segment, the U.S.’s trade deficit in goods dipped in January and the International Tin Association recently surveyed tin producers regarding the impact of the coronavirus outbreak.

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After over three years of drama on the heels of its historic Brexit referendum, the U.K. officially withdrew from the E.U. at the end of January.

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For now, not much has changed. The U.K. remains in a transitional period vis-a-vis its relationship with the E.U., with previous rules governing their relationship still in place.

The clock is ticking, however, as the parties have until the end of this year to agree to a new trade arrangement, one that could have significant consequences for both sides.

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This morning in metals news, U.S. imports of steel were down last month, miner BHP recently released its half-year financial results and Moody’s assesses the impact of the coronavirus around the world.

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While the U.S. and China earlier this year announced a so-called “phase one” trade deal, questions remained about commitments and the enforcement of the deal’s provisions.

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As such, despite forestalling the implementation of new planned tariffs, the U.S. opted to maintain the bulk of the previously imposed tariffs on Chinese goods, amounting to roughly $370 billion.

At the time, President Donald Trump said the U.S. would leave the tariffs in place, but could remove them if a phase two deal is struck; however, it remembers to be seen when, or if, such a deal will be reached between the world’s two largest economies.

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U.S. President Donald Trump’s first official visit to India was labeled a “strategic success” but left little tangibles on the trade table at the end of it all.

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After his 36-hour trip, the U.S. and India signed a deal worth U.S. $3 billion for military equipment, including Apache and MH-60R helicopters.

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The U.S. Department of Commerce. qingwa/Adobe Stock

This morning in metals news, the U.S. International Trade Commission (USITC) made a negative determination in the ongoing anti-dumping probe of fabricated structural steel imports, the Pilbara Ports Authority released January shipment data and Norsk Hydro will offer aluminum solutions for ships under construction for a Norwegian shipowner.

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This morning in metals news, stock markets took heavy losses Monday, U.S. raw steel production is up 1.1% in the year to date and concerns abound regarding workers at Baowu Steel’s Wuhan plant amid the coronavirus outbreak.

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The electric vehicle (EV) market is facing significant headwinds.

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On the one hand, consumer anxiety over EVs’ limited range and extended recharge periods is making the majority reluctant to commit.

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Steven Husk/Adobe Stock

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: India’s auto sector; a merger of Geely and Volvo; China’s steel industry amid the coronavirus outbreak; the E.U.’s anti-dumping probe of aluminum extrusions from China; and iron ore prices.

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