Here’s what we’re tracking this morning in metals: U.S. steel shipments are up in October. AISI has reported that U.S. steel mills shipped close to 8.2 million net tons in October, a 4.6% rise over the month of September — and a 6% increase from the 7.7 million net tons shipped in October 2017. In […]
Tag: Steel
This Morning in Metals: Vale Says Drop in Steel Prices is Temporary
This morning in metals news, the state of falling global steel prices is a temporary condition attributable to Chinese overproduction ahead of winter cuts, according to miner Brazilian miner Vale; Chilean copper exports in November were less valuable; and the arrest of a Huawei Technologies executive has caused concern that it could cast a shadow […]
This Morning in Metals: U.S. Steel Import Market Share Hits 20% in November
This morning in metals news, steel imports coming into the U.S. continue to be down from last year’s levels, Shanghai steel prices are down and the sharp corrective trend in iron ore prices could be coming to an end. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook U.S. Steel Import […]
A Novel Approach to Predicting Price Direction
Price forecasters are always looking out for apparently unrelated factors that correlate to the price movement they are tracking. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Sometimes the relationship seems bizarre. At first sight, a link between oil prices and aluminum prices appears tenuous until you consider that the […]
Rio Tinto Makes First Bauxite Shipment From Amrun Mine
On Monday, miner Rio Tinto announced it had made the first shipment of bauxite from its Amrun mine in Australia, six weeks ahead of schedule. Buying Aluminum in 2019? Download MetalMiner’s free annual price outlook According to a company announcement, the $1.9 billion investment in the Amrun mine serves to replace production from the depleting […]
This Morning in Metals: U.S. Steel Production Up 5.6%
This morning in metals news, U.S. steel production through Nov. 24 was up 5.6% compared with the same period last year, copper prices fell back Tuesday and Ford’s November U.S. sales were down. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook U.S. Steel Production According to a recent American Iron […]
This Morning in Metals: USMCA Signed at G20; Metals Tariffs on Canada, Mexico Remain
This morning in metals news, the U.S., Canada and Mexico formally signed the trade deal that will serve as the successor to the North American Free Trade Agreement (NAFTA), aluminum associations in several countries sent Group of 20 (G20) leaders a joint letter asking them to tackle overcapacity, and President Donald Trump and President Xi […]
Hyundai Explores Possibility of Steel Plant in India
It may be in an extremely preliminary stage, but South Korean steelmaker Hyundai seems keen on setting up a steel plant in India. A team from the Hyundai group visited Visakhapatnam in South India, where the steel plant of Rashtriya Ispat Nigam Ltd (RINL) is located, and spoke of looking at the possibility of setting […]
This Morning in Metals: Norsk Hydro Says Aluminum Demand to Rise 2-3% in 2019
This morning in metals news, Norsk Hydro sees global aluminum demand picking up 2-3% next year, the Office of the United States Trade Representative (USTR) released a statement on China’s automotive tariffs and Steel Dynamics shares bounced back from a 14-month low. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook […]
CEOs Talk Section 232, USMCA as G20 Summit Approaches
With the United States-Mexico-Canada Agreement (USMCA) potentially being signed by the three parties this week during the G20 Summit in Buenos Aires — which will take place over two days, Nov. 30-Dec. 1 — the trade deal and tariffs are on the minds of industry CEOs, from manufacturing to agriculture. Need buying strategies for steel? […]