These are trying times for Glencore, as the cobalt market price collapses due to surging supply and weak copper prices undermine the fundamentals for the miner’s Mutanda copper and cobalt mine in the Democratic Republic of the Congo. The Financial Times reported Glencore will halt production at the world’s largest cobalt mine from the end […]
Tag: L1
Construction MMI: U.S. Construction Spending Falls 2.1% in June
The Construction Monthly Metals Index (MMI) fell three points for an August reading of 78. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook U.S. Construction Spending According to the U.S. Census Bureau’s most recent construction spending report, U.S. construction spending reached $1,287.0 billion in June, down 1.3% from the May estimate […]
Automotive MMI: U.S. Sales Slide in July as Transaction Prices Rise
The Automotive Monthly Metals Index (MMI) fell one point this month for an August reading of 86. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook U.S. Auto Sales Nissan reported July sales in the U.S. of 98,880 units, down 9.1% on a year-over-year basis. Honda’s sales ticked up 1.9% to 141,296 […]
Aluminum MMI: Global Demand Weakness Pulls the Index Back
The Aluminum Monthly Metals Index (MMI) dropped two points this month to 84. Most of the prices tracked for the index dropped this month, with European prices dropping the most (by close to 7.5%). Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook LME aluminum prices fared best of all of […]
U.S. Announces Another Round of Tariffs on Chinese Goods
It should come as no surprise that President Trump last week announced the imposition of a 10% tariff on an additional U.S. $300 billion worth of Chinese goods from Sept. 1. The new tariff would come on top of the 25% levy that Trump already imposed on $250 billion worth of Chinese imports — resulting […]
Trump: U.S. Will Impose 10% Tariff on Additional $300B in Chinese Goods
Although the U.S. and China restarted trade talks this week after a May flare-up in tensions — one that led to the U.S. increasing tariffs on $200 billion in Chinese goods, followed by $60 billion in retaliatory tariffs from China — tariffs were back on the table. Need buying strategies for steel? Request your two-month […]
India’s Ambitious Water Pipe Plans Could be a Boon to its Domestic Steel Sector
Piped water to all – a new Government of India (GoI) multimillion-dollar scheme announced recently — comes as a pleasant surprise to India’s steel industry. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Called the “Nal se Jal” scheme (meaning “water connection to all”), this flagship project aims to provide […]
Global Crude Steel Production Rises 4.6% in the First Half of 2019
Global crude steel production reached 925.1 million tons for the first six months of the year, marking a 4.6% increase compared with the same period in 2018, the World Steel Association reported. Year-over-year production growth has fallen each of the last two months, from 6.4% in April to 5.2% in May. Need buying strategies for […]
Western Carmakers are Struggling in China
Automotive executives running carmaking joint ventures in China must be asking themselves regarding the current performance situation: is it a downturn in the lower end of the car market or backlash against trade war? Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook The Financial Times reported Ford’s plants in China […]
U.S. Steel Imports Down 13% in 1H 2019
The U.S. imported 13% less steel in the first half of 2019 compared with the first half of 2018, the American Iron and Steel Institute (AISI) reported recently. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Through the first six months of the year, U.S. total steel imports reached 15.62 million […]
