This morning in metals news: the US steel sector’s capacity utilization rate hit 78.4% last week; meanwhile,
Ford announced plans to invest $300 million to build a new light commercial vehicle in Romania; and, lastly, the United States International Trade Commission held a five-year sunset review regarding imports of prestressed concrete steel wire strand from China.
Volatility is the name of the game. Do you have a steel buying strategy that can handle the ups and downs?
US steel capacity utilization reaches 78.4%
nikitos77/Adobe Stock
The US steel sector reached a capacity utilization rate of 78.4% for the week ending April 24, the American Iron and Steel Institute reported.
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For many West Virginians, it was welcome news. As the COVID-19 pandemic raged, tens of thousands of residents had lost their jobs. And even before the expensive winter months arrived, so many people were financially struggling that more than 130,000 West Virginians were eligible for pandemic-related state assistance because they had missed a utility payment.
Rio Tinto announced it had reached a financing plan with
Turquoise Hill Resources for the Oyu Tolgoi copper mine in Mongolia; meanwhile, the United States International Trade Commission (USITC) made a countervailing duty ruling on chassis and subassemblies from China; and, lastly, China’s National Bureau of Statistics released Producer Price Index (PPI) figures for the industrial sector in March.
The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.
Rio Tinto reaches financing deal for Oyu Tolgoi
Miner Rio Tinto announced it had reached a financing deal with Turquoise Hill Resources for the Oyu Tolgoi copper miner project.