The LME aluminum 3-month price is moving higher on the morning of Dec. 15 and was last seen trading at $2,258 /metric ton. This means the price is up 7% already since the new low for 2023 was reached on Wednesday at $2,109 /metric ton. The US Dollar reached its lowest level since early August […]
The US Treasury Department and Internal Revenue Service (IRS) announced on Dec. 14 proposed regulations for aluminum production under the Inflation Reduction Act (IRA). According to irs.gov, Section 45X of the Internal Revenue Code (IRC) “provides a credit for the production (within the US) and sale of certain eligible components including solar and wind energy […]
This year saw a huge increase in debate and proposals for addressing greenhouse gas emissions, not only here in the US but around the world.
The LME Aluminum 3-month price is moving up again on the morning of Dec. 8 and was last seen trading at $2,157 per metric ton. The way the price increased first thing in the morning suggests a support may have finally been found, but resistance could hit quickly at $2,200 /metric ton. SHFE cash was […]
On Dec. 6, US Senator Sheldon Whitehouse (D-RI) reintroduced the Clean Competition Act, an environmental trade directive that would impose charges on imports from more carbon-intensive manufacturers.
Steel prices continued to rally last month on the back of repeated mill price increases after tags reached a 2023 low of $645 per ton in late September. Hot-rolled coil (HRC) prices ended November at an average of $923 per ton ($46.15 per cwt), rising by $140 per ton during the month. The SMU Price […]
Mining-metal group Rio Tinto has completed a transaction to purchase half of US aluminum recycling company Matalco from owner, the Giampaolo Group, for $700 million (€638 million), subject to final closing adjustments. The companies will turn Matalco into a 50:50 joint venture. The investment will expand Rio Tinto’s aluminum business in the US, where demand […]
CRU analysts share an update on the aluminm markets.
Sometimes a journalist’s life comes with unexpected perks. That is, beyond the day-to-day of writing stories, a wayward email can come across the Inbox with an attractive invite, and the promise of free food.
Prices of steelmaking raw materials are largely up over the over the last 30 days, as they were the month prior, according to Steel Market Update’s latest analysis.
Algoma is an important Canadian flat-rolled steel producer. It is also a significant supplier to the US market. We’ll discuss current dynamics in the North American sheet and plate markets – as well as some of the particulars of the Canadian market.
Last week was billed as big. The annual meeting of members of the Asia Pacific Economic Cooperation (APEC) in San Francisco convened amid much fanfare. A much-anticipated meeting between President Biden and President Xi Jinping of China was a featured event. So also, was the anticipated completion of the framework agreements establishing the Indo-Pacific Economic […]
European Aluminium, an association representing the entire European aluminum value chain, announced in a press release that it supports the European Commission's proposed 12th package of sanctions against Russia.
Algoma Steel CEO Michael Garcia will be the featured speaker on SMU’s Community Chat webinar on Wednesday, Nov. 29, at 11 am ET. You can register here.
The London Metal Exchange (LME) aluminum 3-month price is moving down again on the morning of Nov. 10 and was last seen trading at $2,225 per metric ton. The US Midwest premium remained steady for the third week in a row, suggesting a bottom might have been hit. Trading activity is picking up for the […]
Alan Price discussed the deep complexity of issues in the Global Arrangement on Sustainable Steel and Aluminum negotiations between the US and EU on Wednesday’s Community Chat.
SMU gives an overview of the steel market and economic indicators for October.
The LME aluminum three-month price was unchanged on the morning of Nov. 3 and was seen trading at $2,235 per tonne.
Ryerson saw lower sales and shipments in the third quarter and is anticipating further declines in the last quarter of the year.
The long-anticipated US-EU summit took place on October 20. There was wide anticipation that the two sides would announce a partial agreement on steel and aluminum policy and perhaps an agreement on critical minerals, such as lithium for electric vehicle batteries. Even modest accomplishments such as these were not to be. Instead, the US and […]
With the aluminum industry assembled in Nashville, Tenn., for the Aluminum USA 2023 conference, word was breaking of a tentative deal between the United Auto Workers (UAW) and Ford.
Reliance Steel & Aluminum is anticipating overall demand to remain healthy through year’s end despite some weakening in some sectors and normal seasonality.
Electricity demand worldwide is growing significantly, requiring massive investments in the electric grid to supply increased needs and desire for electricity. A recent report by the International Energy Agency (IEA) indicates that global demand for electricity will double from 2020 to 2050. In developed economies, the growth rate will be somewhat lower. But it will […]
After a meeting Friday at the White House, the EU and US issued a joint statement noting no concrete movement towards a Global Arrangement on Sustainable Steel and Aluminum.
LME Aluminum Continues To Trade Under Pressure; US Midwest Premium Stays Between 19–19.5¢/lb The LME aluminum 3-month price continued to trade under pressure on the morning of 20 October and was last seen trading at $2,177/t. The US Midwest premium showed no surprise as it continued to sit between 19–19.5 ¢/lb. The UAW strikes are […]
On its third-quarter earnings conference call on Thursday, Oct. 19, Steel Dynamics Inc. executives did not rule out the possibility of ‘inorganic growth’ opportunities.
Wiley partner Alan Price will be the featured speaker on Steel Market Update’s next Community Chat webinar on Wednesday, Nov. 8, at 11 a.m. ET. You can register here.
Much effort has been made in examining the supply chain of commodities related to electrification: everything from copper to aluminum to critical battery materials such as lithium, nickel, and cobalt. One overlooked material, however, is electrical steel.
Steel Dynamics Inc. (SDI) reported a drop in third quarter profits on lower prices for flat-rolled steel as well as for fabricated products.
The LME aluminum 3-month price was stable on the morning of Oct. 13, trading at $2,201 per tonne at that time.