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HRC steel: high inventories, limited demand and rising energy costs fuel negative sentiment
The European hot-rolled coil market maintained negative sentiment on Sept. 20, while trading activity remained minimal and mills failed to pass on rising energy costs to steel prices. Hot-rolled coils in Northwest Europe stood at 774 euros/mt ex-works on Sept. 20,...
Steel: Biden’s “Buy Clean” initiative is a blessing for U.S. manufacturers
The Biden-Harris administration has announced that it will "prioritize the purchase of low-carbon building materials, covering 98 percent of materials purchased by the federal government." With steel plants closing around the world, this is a boon for U.S....
Copper: prices under pressure as stocks rise ahead of Fed decision
Copper prices were pressured by rising inventories in London Metal Exchange (LME)-approved warehouses and a dollar currently on standby that weighed on sentiment ahead of the interest rate decision by the U.S. Federal Reserve later this week. Benchmark copper at the...
Aluminum: Rusal assumes direct delivery on LME warehouses
Russian aluminum producer Rusal is working on a plan to deliver some of its aluminum directly to London Metal Exchange (LME) warehouses in Asia. Neither Rusal nor its metal is subject to the sanctions imposed on other Russian companies after Moscow's invasion of...