Steel

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This morning in metals news, the U.S. steel sector’s capacity utilization rate for the week ending May 16 hit 52.7%, U.S. Steel announced an iron ore sales agreement and the United States International Trade Commission (USITC) is holding a five-year sunset review of duties on oil country tubular goods from several countries.

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Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner, including coverage of: copper prices, the automotive sector’s push to restart production, oil prices and more.

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This morning in metals news, the E.U. could slap new duties on steel imported from Turkey, Australian energy exports to China have surged and union representatives questioned Alcoa’s efforts to keep its Ferndale, Washington smelter running.

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The Raw Steels Monthly Metals Index (MMI) held flat this month.

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gui yong nian/Adobe Stock

This morning in metals news, U.S. steel shipments fell in March, Chinese stainless steel futures surged to a nine-month high and BHP made its first yuan-denominated sale of iron ore to China’s Baosteel.

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Steelmaker ArcelorMittal late last week released its Q1 2020 financial results, reporting a net loss of $1.1 billion amid challenges stemming from the COVID-19 crisis.

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The Construction Monthly Metals Index (MMI) held flat this month.

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gui yong nian/Adobe Stock

This morning in metals news, the U.S. steel sector’s capacity utilization rate fell to 51.1% for the week ending May 2, Cleveland-Cliffs’ AK Steel Dearborn Works will be shuttered, and the U.S. Department of Commerce will self-initiate a Section 232 investigation of imports of laminations and wound cores for incorporation into transformers, electrical transformers, and transformer regulators. 

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Bombardho/Adobe Stock

Before we head into the weekend, let’s take a look at the week that was and some of the metals storylines here on MetalMiner, including coverage of: copper production; aluminum tariff exclusion reform; the nickel market; global steel production; and much more.

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This morning in metals news, Century Aluminum reported its Q1 financial results, U.S. Steel will lay off workers at its Mon Valley Works and Chinese copper stocks plunged.

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