Industry News

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This morning in metals news: U.S. Steel plans to restart another blast furnace at its Gary Works; imports of blooms, billets and slabs from Japan have seen a significant jump this year; and silver prices have surged to a seven-year high.

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Chile

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This morning in metals news: Chilean firm Antofagasta announced its second-quarter production results; Brent crude oil prices were down 20% in Q1 2020 compared with Q1 2019; and Alcoa announced a new deal to supply low-carbon rolling slabs.

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China

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China’s automotive market has bounced back over the last quarter, with automotive sales up for the last three months.

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Marking a third straight month of year-over-year increases, China’s June automotive sales were up 11.6%, according to data recently released by the China Association of Automobile Manufacturers (CAAM).

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Mining trucks

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This morning in metals news: miner BHP posted higher iron ore and copper output totals in FY 2020; miner Anglo American also released its own production results; the National Mining Association praised reforms to the National Environmental Policy Act.

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The U.S. steel sector’s capacity utilization rate ticked up again last week, continuing a recent string of incremental upward movement.

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This morning in metals news: Rio Tinto released its second-quarter production results; steel industry groups want infrastructure to be added to the U.S.’s next stimulus bill; and reported plans to replace furnaces at Tata Steel’s Port Talbot plant have raised worries that thousands of jobs could be lost in the process.

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The coronavirus pandemic has impacted a wide range of economic sectors in the U.S., including housing start activity.

Manufacturing, retail and energy, among others, have taken hits amid a decline in demand as a result of the pandemic and subsequent public health measures taken to combat it.

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Just like U.S. auto sales, while June housing starts remained down compared with 2019 levels, housing activity rose significantly compared with the previous month.

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silver price

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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:

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USMCA

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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.

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This morning in metals news: the U.S. Court of International Trade ruled the U.S.’s doubling of Section 232 steel tariffs for imports from Turkey in 2018 violated the Fifth Amendment’s Equal Protection guarantees; Western Copper and Gold announced an increase in its mineral reserves; and Alcoa released its second-quarter earnings results.

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