Thursday, April 19, 2018

This Morning in Metals: Alcoa Shares Jump 4%, Companies Seek Waivers from Section 232 Tariffs

This morning in metals news, there has been a flood of applications from U.S. companies for exemptions from the Section 232 tariffs. Nickel prices reached a three-year high, stoked by fears of more sanctions, and Alcoa shares jumped in after-hours trade following rosy Q1 results. Need buying strategies for steel? Try two free months of...

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from Metal Prices – Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner https://agmetalminer.com/2018/04/19/section-232/

Wednesday, April 18, 2018

This Morning in Metals: Saudi Arabia Seeks $100/Barrel Oil Price, Chinese Iron Ore Rebounds from 10-Month Low

This morning in metal news, Chinese iron ore futures rebound from a 10-month low, Saudi Arabia emerges as OPEC’s leading supporter for further reducing oil supply, and researchers discover a major supply of rare earth minerals in the seabed near a remote Japanese island. Need buying strategies for steel? Try two free months of MetalMiner’s...

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from Metal Prices – Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner https://agmetalminer.com/2018/04/18/this-morning-in-metals-saudi-arabia-seeks-100barrel-oil-price-chinese-iron-ore-rebounds-from-10-month-low/

Tuesday, April 17, 2018

This Morning in Metals: Aluminum Prices Rally, EU Challenges U.S. Section 232 Tariffs

This morning in metals news, aluminum prices have risen to a seven-year-high following the London Metal Exchange’s ban on Rusal metal, the EU pushes back against the U.S.’s steel and aluminum tariffs, and renewable energy takes center stage among major U.S. companies. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook A...

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from Metal Prices – Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner https://agmetalminer.com/2018/04/17/this-morning-in-metals-aluminum-prices-rally-eu-challenges-u-s-section-232-tariffs/

Monday, April 16, 2018

This Morning in Metals: Oil, Gold Prices Dip, NAFTA Talks to Accelerate

This morning in metals news, oil and gold prices opened slightly lower despite the missile attacks on Syria that took place early Saturday morning local time. NAFTA renegotiation talks speed up in face of Mexico’s upcoming presidential election. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook Oil, Gold Traded Lower Following...

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from Metal Prices – Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner https://agmetalminer.com/2018/04/16/this-morning-in-metals-oil-gold-prices-dip-nafta-talks-to-accelerate/

Aluminum Recovers With More Than 13% Price Jump in a Week

At the end of week before last, aluminum prices seemed to struggle; some thought the metal might have shifted to bearish country. However, after that LME aluminum prices jumped by more than 13% in a week. LME aluminum prices retraced to August resistance levels ($1,972/mt), and then increased sharply again. Need buying strategies for steel?...

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from Metal Prices – Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner https://agmetalminer.com/2018/04/16/aluminum-recovers-with-more-than-13-price-jump-in-a-week/

Friday, April 13, 2018

Week in Review: MMI Week, Rusal Takes a Hit and Taking on Overcapacity

Before we head into the weekend, let’s take a look back at the week that was and some of the headlines here on MetalMiner: Need buying strategies for steel? Try two free months of MetalMiner’s Outlook In case you missed it, check out our Monthly Metal Index (MMI) reports for: Copper Global Precious Aluminum Raw...

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from Metal Prices – Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner https://agmetalminer.com/2018/04/13/week-in-review-mmi-week-rusal-takes-a-hit-and-taking-on-overcapacity/

Thursday, April 12, 2018

GOES MMI: No Exemption Requests on Grain-Oriented Electrical Steel

Last month MetalMiner made the following statement: “The impact on Grain Oriented Electrical steel buying organizations, MetalMiner believes, will not exactly mirror the broader impact of the tariffs on commonly purchased steel forms, alloys and grades.”

Need buying strategies for steel? Try two free months of MetalMiner’s Outlook

We don’t always get it right but indeed, GOES M3 prices fell last month in comparison to across-the-board price increases for all or nearly all other carbon flat rolled product categories.

Meanwhile, although MetalMiner knows of one buying organization pursuing an exclusion request via the recently published exclusion process, no company has yet to file one (at least as of April 11). That will change as GOES imports continue to arrive.

This month import levels jumped, as did Japanese imports, in particular.

[caption id="attachment_91308" align="aligncenter" width="580"] Source: MetalMiner analysis of ITC trade data[/caption]

Of note, Chinese imports remain negligible (240 tons) and no imports came from South Korea.

What About the Section 301 Investigation?

A quick search revealed that the 301 investigation also includes grain-oriented electrical steel with HTS Codes: 72261110, 72261190, 72261910 and 72261990 — basically “alloy silicon electrical steel (grain-oriented) of various widths.”

However, the 301 investigation does not include either transformer parts (8504.90.9546) or wound cores (8504.90.9542), both of which could come into the U.S. under current prevailing market treatment.

MetalMiner will update readers when/if President Trump publishes a proclamation on the 301 investigation.

MetalMiner’s Annual Outlook provides 2018 buying strategies for carbon steel

Exact GOES Coil Price This Month

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from Metal Prices – Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner https://agmetalminer.com/2018/04/12/goes-mmi-no-exemption-requests-on-grain-oriented-electrical-steel/