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.
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.
China’s automotive market has bounced back over the last quarter, with automotive sales up for the last three months.
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).
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.
The U.S. steel sector’s capacity utilization rate ticked up again last week, continuing a recent string of incremental upward movement.
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.
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.
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.
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.
This Morning in Metals: CIT rules on U.S. doubling of Section 232 steel tariffs on imports from Turkey
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.