It was another busy week in the world of metals and metal-using sectors. Among this week’s major developments were an executive shakeup at Ford, aluminum prices on the rise in China and a U.S. steel sector seeing capacity utilization gains week by week.
Tag: steel price
U.S. steel capacity utilization inches closer to 60%
The U.S. steel sector’s steel capacity utilization rate has continued to inch upward in recent months, rising to 59.3% for the week ending Aug. 1.
Steel capacity utilization continues recent gains, moves to 58.9%
The U.S. steel sector has slowly but surely been showing some signs of recovery.
This Morning in Metals: Gold price rises to all-time high
This morning in metals news: the gold price has surged to an all-time high; China is eyeing changes to its steep capacity swap rules; and Northern Dynasty Minerals has received an environmental impact study for its Pebble copper-gold-molybdenum project in Alaska.
Iron ore is being undermined by slowing steel demand
A recent Reuters article looked at the seaborne iron ore market and suggests robust demand from China is offsetting weak demand from the rest of Asia and Europe, leaving a largely balanced global seaborne market.
This Morning in Metals: June steel imports drop to 1.3M metric tons
This morning in metals news: U.S. steel imports fell in June; Freeport-McMoRan reported its Q2 and first-half results; and Norsk Hydro’s underlying EBIT for the second quarter gained compared with Q2 2019.
Week in Review: Housing starts rise; oil price recovers; shipping lines face challenges
Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines on MetalMiner:
World Steel Association: global steel production falls 7% in June
Global crude steel production in June fell by an estimated 7% on a year-over-year basis.
U.S. steel sector’s capacity utilization rate continues to inch upward
The U.S. steel sector’s capacity utilization rate inched upward yet again last week.
China may be doing the heavy lifting for metals price support — but the legs are looking shaky
True to form, if not to scale, Beijing resorted to infrastructure spending this quarter to support the economy as it sought to pull the country out of government-imposed lockdowns in the first quarter.
