The LME aluminum three-month price was broadly unchanged on Friday morning, Oct. 6, and was last seen trading at $2,243 per ton. Due to the Mid-Autumn Festival and National Day celebrations, the SHFE is closed for holidays from Sept. 29 to Oct. 6. According to a report from Bloomberg, leaders from the EU and the […]
Algoma Steel Group has extended its iron ore purchase agreement with U.S. Steel for another two years.
A UAW strike at Mack Trucks was avoided this week when a tentative labor agreement was reached.
Algoma Steel Inc. plans to ramp up production at its modernized plate mill toward the end of the year. Operations Update The Canadian sheet and plate producer said it in the meantime continues hot commissioning at the upgraded facility and has begun cold commissioning as well. The company said it has also run trials through […]
The LME aluminum 3-month price was up 4.7% during the last week of the month to close September trading at $2,325 per metric ton – its highest price since early August. Several correlations appeared to have broken down in the short term given the weakness in the US stock market, a weaker copper price, and, critically, the resurgent dollar.
Demand will be the determining factor in what happens to steel sheet prices globally for the remainder of the year, and most risks right now are to the downside. An autoworkers strike has started in the USA and could increase price volatility in the domestic sheet market. The longer and more severe this strike is, […]
The LME aluminum 3-month price was up 0.8% on the morning of Friday Sept. 22. It was last seen trading at $2,238/metric tons, remaining above the $2,200/t mark for most of the past week.
The United Auto Workers (UAW) significantly escalated its strike against General Motors and Stellantis on Friday.
After a quiet couple of weeks, the futures market has recently come to life over the last three days, and is starting to show some bullish signals.
Steel Dynamics Inc. (SDI) and Mercedes-Benz have signed an agreement for the automaker to source 50,000 metric tons of C02-reduced steel for its plant in Tuscaloosa, Ala.
The United Auto Workers (UAW) strike that started Friday leaves the Detroit 3 automakers—and it’s union-represented workers—in uncharted territory.
The LME aluminum 3-month price was broadly stable on the morning of Sept. 15 and was last seen trading near $2,208 per tonne.
SMU Managing Editor Michael Cowden shares his Final Thoughts for the week on what happens to steel if the United Auto Workers (UAW) launch a series of “stand up” strikes at midnight tonight against Ford, General Motors, and Stellantis?
The US Federal Reserve said that although overall economic activity was modest in July and August, per its latest Beige Book Report released on Sept. 6, the report was still slightly more optimistic than the previous one.
The Chicago Business Barometer edged up in August. This is the third consecutive monthly increase according to the latest indicators from Market News International (MNI) and the Institute for Supply Management (ISM).