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 mill production remains down compared to 2019 levels.
However, the sector’s capacity utilization rate has been on the rise in recent weeks.
At 58.9% for the week ending July 25, the rate is still well below the 80% mark identified by the Department of Commerce as the goal when the Trump administration implemented Section 232 tariffs on steel and aluminum in 2018.
This week’s coverage included analysis related to:
- Steel demand and price movements for steelmaking raw materials
- The U.S.’s June industrial production
- Don Hauser’s five key areas to keep an eye on as buyers heading to steel contracting season
July 27-31: stainless steel demand, industrial production levels and more
- Stuart Burns on steel demand and price movements for steelmaking raw materials.
- U.S. industrial production picked up again in June, the Federal Reserve reported.
- U.S. steel capacity utilization rate made gains last week, continuing the recent run of incremental gains.
- Demand for stainless steel is “anything but dynamic” right now, Burns explained.
- Don Hauser laid out five things steel buyers should keep an eye on heading into contracting season.
- Tata Steel is opening a new scrap steel plant in India.
- The U.S. is looking to strengthen its rare earths supply chain and, in the process, draw down its dependence on rare earths from China.
- Copper prices have continued to make gains, rising nearly 10% in June compared with the previous month, according to the International Copper Study Group.