This morning in metals news: US energy consumption fell by 7% in 2020; the United Steelworkers union commented on the details of President Joe Biden’s American Jobs Plan; and the aluminum price retraced last week. Want an occasional email from MetalMiner that highlights new content with NO sales ploys? Join that list here. US energy […]
Tag: aluminum price
Economic Policy Institute: Section 232 tariffs delivered ‘near-immediate benefits’
Three years have passed since former President Donald Trump imposed Section 232 tariffs on steel and aluminum. The administration cited national security concerns when imposing the tariffs. In addition, it aimed to raise capacity utilization of the US steel and aluminum sectors. (For the week ending March 20, US mills reached a steel capacity utilization […]
Rising Midwest Premium reflects aluminum market tightness
The aluminum market is undeniably tight, as consumers are having to wait months for metal and the Midwest Premium rises. In some locations — Europe, in particular — consumers of rolled plate cannot secure new production space until well into Q3. Some mills have even pulled out of quoting for new business customers in 2021. […]
This Morning in Metals: ArcelorMittal launches XCarb™ low-carbon initiatives
This morning in metals news: ArcelorMittal announced a series of low-carbon initiatives; meanwhile, US import prices increased in February; and, lastly, the aluminum price has picked up this week. Are you on the hook for communicating the company’s steel performance to the executive team? See what should be in that report. ArcelorMittal unveils XCarb™ low-carbon […]
US confirms anti-dumping aluminum tariffs on key suppliers
Despite howls of protest from consumers, the Biden administration has doubled down on the Trump administration’s trade barriers with its latest move on aluminum tariffs. The administration recently slapped semi-finished flat rolled aluminium anti-dumping duties on 18 countries supplying the US market. Aluminum tariffs Previous administrations’ focus on China — first on extrusions in 2011 […]
This Morning in Metals: ArcelorMittal reportedly asks for cash upfront to supply GFG mills
This morning in metals news: amid GFG Alliance’s financial crisis, ArcelorMittal has reportedly asked for cash upfront to supply Sanjeev Gupta’s steel mills; meanwhile, a so-called “green hydrogen” facility in Germany has started operations; and, finally, the LME three-month aluminum price has trended sideways this month. Cut-to-length adders. Width and gauge adders. Coatings. Feel confident in […]
Aluminum MMI: China’s latest five-year plan could support aluminum prices
The Aluminum Monthly Metals Index (MMI) picked up 6.3% for this month’s reading, as the China aluminum sector could get a price boost from the 14th Five-Year Plan. Furthermore, the Department of Commerce made anti-dumping and countervailing duty determinations on aluminum sheet. China’s 14th Five-Year Plan By virtue of its having the largest aluminum and […]
What’s next for the former Trump administration’s aluminum tariff?
Whether the new Biden administration creates a more insightful or sophisticated approach to trade remains to be seen. But, if nothing else, a new administration is a chance for a reset on policies that have not worked as intended under a previous administration. Aluminum tariff policy The previous administration’s Section 232 tariffs on aluminum of […]
Investment banks signal possible start of a commodities super cycle
Investment banks love a super cycle. It spurs irrational investment and sucks in unwary investors. Furthermore, it encourages passive funds to up their allocation, even if only by fractions of a percent. But with some $14 trillion invested in US equities alone, even a modest increase in passive investments into ETFs would reap significant rewards […]
This Morning in Metals: Coalition of American Metal Manufacturers and Users calls for end to Section 232 tariffs
This morning in metals news: the Coalition of American Metal Manufacturers and Users called on the Biden administration to rescind the Section 232 steel and aluminum tariffs; meanwhile, the Energy Information Administration forecasts US energy-related CO2 emissions to rise after the mid-2030s; and, lastly, US President Joe Biden spoke this week with Chinese President Xi […]
