Category: Ferrous Metals

Construction MMI: May construction spending drops 2.1%

The Construction Monthly Metals Index (MMI) picked up 4.2% this month. U.S. construction spending According to the most recent reporting from the U.S. Census Bureau, U.S. construction spending reached a seasonally adjusted annual rate of $1,356.4 billion in May, down 2.1% from the previous month but up 0.3% from the May 2019 estimate of $1,352.9 billion. Sign…

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The Construction Monthly Metals Index (MMI) picked up 4.2% this month. U.S. construction spending According to the most recent reporting from the U.S. Census Bureau, U.S. construction spending reached a seasonally adjusted annual rate of $1,356.4 billion in May, down 2.1% from the previous month but up 0.3% from the May 2019 estimate of $1,352.9 billion. Sign...

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This Morning in Metals: U.S. steel capacity utilization rate jumps again to 56.6%

This morning in metals news, the U.S. steel sector again posted another incremental rise in its steel capacity utilization rate, Freeport-McMoRan adjusted its Q2 copper sales estimates and the Airbus–Boeing tariff saga continues. Steel capacity utilization reaches 56.6% U.S. steel mills churned out steel at a capacity utilization rate of 56.6% during the week ending…

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This morning in metals news, the U.S. steel sector again posted another incremental rise in its steel capacity utilization rate, Freeport-McMoRan adjusted its Q2 copper sales estimates and the Airbus–Boeing tariff saga continues. Steel capacity utilization reaches 56.6% U.S. steel mills churned out steel at a capacity utilization rate of 56.6% during the week ending...

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Are we in for a repeat of longer LME aluminum load-out queues, rising physical delivery premiums?

A recent Reuters article doesn’t say so in as many words but certainly suggests conditions are fertile for warehouse operators to incentivize metal deliveries again and, in the process, queues could form at exit. The article focused on what it termed a “flash squeeze” in LME rollover premiums from one day to the next, termed…

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A recent Reuters article doesn’t say so in as many words but certainly suggests conditions are fertile for warehouse operators to incentivize metal deliveries again and, in the process, queues could form at exit. The article focused on what it termed a “flash squeeze” in LME rollover premiums from one day to the next, termed...

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Automotive MMI: U.S. auto sales begin slow recovery but remain depressed

The Automotive Monthly Metals Index (MMI) picked up by 5.1% this month. U.S. auto sales U.S. auto sales continued to slump last month and over the second quarter overall, even as the U.S. auto sector restarted production in late May after an approximat…

The Automotive Monthly Metals Index (MMI) picked up by 5.1% this month. U.S. auto sales U.S. auto sales continued to slump last month and over the second quarter overall, even as the U.S. auto sector restarted production in late May after an approximately two-month suspension. General Motors reported second-quarter deliveries of 492,489 vehicles, down 34%...

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Week in Review: Buying in volatile markets; Annual Outlook update; oil price drivers

Before we head into the Fourth of July weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner: Missed the recent webinar on buying during volatile markets? Check out our recap of the event and find a link to the recording to listen on demand….

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Before we head into the Fourth of July weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner: Missed the recent webinar on buying during volatile markets? Check out our recap of the event and find a link to the recording to listen on demand....

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Tata Steel posts $163M quarterly loss as pandemic continues to pressure steelmakers

One of India’s biggest steel conglomerates, Tata Steel, has posted a “higher than expected” consolidated net loss during the January-March 2020 quarter of approximately U.S. $163 million. Compare this to its net profit of about U.S. $311 million reported during the same period last year and one can understand the enormity of the situation. The…

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One of India’s biggest steel conglomerates, Tata Steel, has posted a “higher than expected” consolidated net loss during the January-March 2020 quarter of approximately U.S. $163 million. Compare this to its net profit of about U.S. $311 million reported during the same period last year and one can understand the enormity of the situation. The...

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EUROFER, IndustriAll Europe rebuke E.U.’s lack of steel import quota adjustment

This has been a challenging year for a number of sectors, amid already slowing growth and then the massive impact of the coronavirus pandemic — but the European steel sector has been hit particularly hard. The E.U. previously imposed steel safeguards in 2019, a response to rising import levels on the heels of the U.S.’s…

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This has been a challenging year for a number of sectors, amid already slowing growth and then the massive impact of the coronavirus pandemic — but the European steel sector has been hit particularly hard. The E.U. previously imposed steel safeguards in 2019, a response to rising import levels on the heels of the U.S.’s...

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U.S. steel capacity utilization rate ticks up to 55.4%

The percentage of U.S. steel mills’ capacity utilization rate jumped to 55.4% for the week ending June 27, up from 54.6% for the previous week. U.S. steel production for the week ending June 27 totaled 1.24 million tons, according to the American Iron and Steel Institute (AISI), up 1.3% from the previous week but down…

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The percentage of U.S. steel mills’ capacity utilization rate jumped to 55.4% for the week ending June 27, up from 54.6% for the previous week. U.S. steel production for the week ending June 27 totaled 1.24 million tons, according to the American Iron and Steel Institute (AISI), up 1.3% from the previous week but down...

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Week in Review: Industrial production rises; Liberty Steel invests in the future; MW aluminum premium spikes

Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner: Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today! U.S. industrial production showed some life in May after a dismal previous two…

The post Week in Review: Industrial production rises; Liberty Steel invests in the future; MW aluminum premium spikes appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner: Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today! U.S. industrial production showed some life in May after a dismal previous two...

The post Week in Review: Industrial production rises; Liberty Steel invests in the future; MW aluminum premium spikes appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

This Morning in Metals: Aluminum sector CEOs express opposition to return of Section 232 aluminum tariff for Canada, Mexico

This morning in metals news: CEOs across the aluminum industry supply chain sent a letter to United States Trade Representative Robert Lighthizer to voice their opinion about a potential reimposition of aluminum tariffs on aluminum from Canada and Mexi…

This morning in metals news: CEOs across the aluminum industry supply chain sent a letter to United States Trade Representative Robert Lighthizer to voice their opinion about a potential reimposition of aluminum tariffs on aluminum from Canada and Mexico; the International Aluminum Institute recently released global production figures for May; and the Energy Information Administration...

The post This Morning in Metals: Aluminum sector CEOs express opposition to return of Section 232 aluminum tariff for Canada, Mexico appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.