If you are a metals purchaser, it is imperative to mitigate risk and keep costs down whenever possible. Of course, volatile market conditions can very quickly disrupt a buying organization’s approach, whether it’s due to the imposition of new tariffs, the coronavirus outbreak or the oil price plunge (just to name a few recent events […]
Tag: L1
Midwest aluminum premium surges on threat of tariff rise
At the behest of the American Primary Aluminum Association (APAA), U.S. Trade Representative Robert Lighthizer has been encouraged to push the Trump administration to rule this week against Canada’s duty-free status for primary aluminum into the U.S. market.
Liberty Steel UK looks to invest its way out of trouble
While most steelmakers are struggling for survival, Liberty Steel Group UK (LSUK) is pushing on with ambitious plans to double production and expand into new areas.
USITC: Imports of collated steel staples from China injure U.S. industry
The United States International Trade Commission voted unanimously in its anti-dumping and countervailing subsidy review of imports of Chinese collated steel staples, concluding the imports are injurious to U.S. industry.
May global crude steel production drops 8.7% year over year
Although demand and overall economic activity in China has begun to recover in recent weeks, overall global steel production in May remained down compared with May 2019 levels.
Fed: U.S. industrial production rises 1.4% in May as automakers restart production
While positive coronavirus cases are on the rise in several parts of the country, industrial production bounced back in May after posting the largest monthly drop in the history of the Federal Reserve’s industrial production index in April.
India’s first natural gas exchange comes online
India launched its first natural gas exchange earlier this week. The Indian Gas Exchange (IGX) is a nationwide, online delivery-based gas trading platform for delivery of natural gas, Zee News reported.
Despite backdrop of ethical conundrum, Tesla goes to the Congo, Glencore for cobalt
An interesting article in the Financial Times this week explores the conundrum electric car makers have in balancing their ethical policies with the need to source critical raw materials, like cobalt, to produce the most powerful version of today’s electric vehicle (EV) batteries.
OECD forecasts dismal times ahead for the U.K. economy
Having topped the European league tables with the highest number of infections and deaths due to the coronavirus pandemic, the U.K. looks set to top the recession league table, according to a recent report by the Organization for Economic Cooperation and Development (OECD).
Chinese aluminum semi-finished product exports continue to fall
As we predicted last week, the LME to SHFE arbitrage window has closed. Investors were unlikely to leave that open for long and the resulting inflow of half a million tons of aluminum in May no doubt contributed to a narrowing of the delta.
