This Morning in Metals: US steel sector capacity utilization rate dips to 75.2%

This morning in metals news: the US steel sector’s steel capacity utilization rate dipped to 75.2% last week; meanwhile, Tata Steel reported its highest ever consolidated quarterly EBITDA; and, lastly, the Metals Service Center Institute (MSCI) launched a new campaign advocating for infrastructure investment. Steel capacity utilization down to 75.2% The US steel sector’s capacity…

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This morning in metals news: the US steel sector’s steel capacity utilization rate dipped to 75.2% last week; meanwhile, Tata Steel reported its highest ever consolidated quarterly EBITDA; and, lastly, the Metals Service Center Institute (MSCI) launched a new campaign advocating for infrastructure investment. Steel capacity utilization down to 75.2% The US steel sector’s capacity...

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Tata Steel looks to split up European units to find buyers

Tata Steel has been having a pretty horrid time trying to get rid of its loss-making European steel business. Last year, the European Commission rejected a potential merger with ThyssenKrupp’s equally struggling steel business on competition grounds. The combination of two such significant European steelmakers would give them undue dominance in the European market, the…

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Tata Steel has been having a pretty horrid time trying to get rid of its loss-making European steel business. Last year, the European Commission rejected a potential merger with ThyssenKrupp’s equally struggling steel business on competition grounds. The combination of two such significant European steelmakers would give them undue dominance in the European market, the...

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Tata Group in negotiations with U.K. over possible state bailout

Despite talks of negotiations over a potential Tata Group bailout in the U.K., the Indian firm has proved itself a generally good steward of the businesses it has purchased in the U.K. over the years. In hindsight, its purchase of Jaguar Land Rover fro…

Despite talks of negotiations over a potential Tata Group bailout in the U.K., the Indian firm has proved itself a generally good steward of the businesses it has purchased in the U.K. over the years. In hindsight, its purchase of Jaguar Land Rover from Ford for U.S. $2.3 billion in June 2008 was a steal....

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Week in Review: Stainless steel demand; industrial production; copper prices

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. In the U.S., some sectors are showing signs of recovery, even as several regions in the country continue to battle a rise in positive COVID-19 cases. For example, U.S. steel…

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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. In the U.S., some sectors are showing signs of recovery, even as several regions in the country continue to battle a rise in positive COVID-19 cases. For example, U.S. steel...

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Tata Steel to launch first scrap-based steel plant in India

India’s first scrap-based steel plant will soon come online. Tata Steel has set up the new plant in Haryana in central India. The plant is expected to have an annual capacity of 500,000 tons, the Hindu Business Line reported. Tata has set up the plant in collaboration with Aarti Green Tech Ltd, a subsidiary of…

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India’s first scrap-based steel plant will soon come online. Tata Steel has set up the new plant in Haryana in central India. The plant is expected to have an annual capacity of 500,000 tons, the Hindu Business Line reported. Tata has set up the plant in collaboration with Aarti Green Tech Ltd, a subsidiary of...

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This Morning in Metals: Rio Tinto releases Q2 production results

This morning in metals news: Rio Tinto released its second-quarter production results; steel industry groups want infrastructure to be added to the U.S.’s next stimulus bill; and reported plans to replace furnaces at Tata Steel’s Port Talbot plant have raised worries that thousands of jobs could be lost in the process. Rio Tinto releases Q2…

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This morning in metals news: Rio Tinto released its second-quarter production results; steel industry groups want infrastructure to be added to the U.S.’s next stimulus bill; and reported plans to replace furnaces at Tata Steel’s Port Talbot plant have raised worries that thousands of jobs could be lost in the process. Rio Tinto releases Q2...

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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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This Morning in Metals: Copper rallies for biggest quarter in a decade

This morning in metals news, copper soared during Q2, Tata Steel is looking for a recovery in the second half of this fiscal year, and aluminum demand in the U.S. and Canada was down by just under 19% through the first four months of the year. Copper p…

This morning in metals news, copper soared during Q2, Tata Steel is looking for a recovery in the second half of this fiscal year, and aluminum demand in the U.S. and Canada was down by just under 19% through the first four months of the year. Copper prices continue rise Copper prices have been on...

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Steel industry goes cap in hand for government bailout

Every industry claims to be a special case; in times as dire as these, the clamor of claims all but drowns out sensible debate. Better time your metal market purchases with the MetalMiner Insights platform. Request a demo Some industries are clearly in…

Every industry claims to be a special case; in times as dire as these, the clamor of claims all but drowns out sensible debate. Better time your metal market purchases with the MetalMiner Insights platform. Request a demo Some industries are clearly in a perilous state. Consider airlines, with huge fixed costs and, in most...

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Europe’s steel industry under pressure amid falling orders, personnel challenges

Europe’s steelmakers are cutting production and idling factory lines as an industry already buckling under a severe market downturn girds itself for the economic fallout from coronavirus, the Financial Times reports. Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today! Companies such as Thyssenkrupp and Tata Steel…

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Europe’s steelmakers are cutting production and idling factory lines as an industry already buckling under a severe market downturn girds itself for the economic fallout from coronavirus, the Financial Times reports. Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today! Companies such as Thyssenkrupp and Tata Steel...

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