Articles in Category: Company News

This morning in metals news: General Motors says it will increase vehicle deliveries to customers in the US and Canada; US nonfarm business sector labor productivity rose by 5.4% in the first quarter; and crude oil prices continue to rise.

Each month, MetalMiner hosts a webinar on a specific metals topic. Explore the upcoming webinars and sign up for each on the MetalMiner Events page.

General Motors to increase deliveries to US, Canada

General Motors headquarters in Detroit, Michigan

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General Motors announced plans to increase vehicle deliveries to customers in the US and Canada.

The automaker cited “strong demand” for Chevrolet, Buick, GMC and Cadillac vehicles.

Production of the Chevrolet Silverado HD and GMC Sierra HD full-size pickups will increase by about 1,000 trucks per month, General Motors said, beginning in mid-July. In addition, shipments of Chevrolet Colorado and GMC Canyon mid-size pickups will increase by about 30,000 total units from mid-May through the week of July 5.

“As announced in May, GM will return full-size pickup production to Oshawa Assembly in Canada during the fourth quarter of 2021,” the automaker added. “The new accelerated timeline and incremental volume are expected to make an impact in 2022, as production ramps up.”

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This morning in metals news: the US steel capacity utilization rate reached 81.5% last week; meanwhile, miner Glencore announced a new liquefied natural gas supply agreement; and, lastly, G7 trade ministers issued a joint communiqué covering market and trade distortions by state enterprises.

Each month, MetalMiner hosts a webinar on a specific metals topic. Explore the upcoming webinars and sign up for each on the MetalMiner Events page.

US steel capacity utilization rate rises to 81.5%

steelmaking in an EAF

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US steel capacity utilization for the week ending May 29 reached 81.5%, the American Iron and Steel Institute (AISI) reported.

Output during the week reached 1,836,000 net tons, AISI reported, up 50.1% year over year. In the previous week, the capacity utilization rate settled at 79.0%.

Meanwhile, the output total marked an increase of 2.4% from the previous week.

For the year to date, production reached 35,913,000 net tons. The capacity utilization rate for the period checked in at 78.1%. Year-to-date output is up 9.5% from the same period in 2020, when the capacity utilization rate reached 69.9%.

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This morning in metals news: US personal consumption expenditure rose in April; meanwhile, Norsk Hydro is teaming up on an offshore wind project in the Norwegian North Sea; and, lastly, the United Steelworkers asked the Biden administration for clarification on its domestic mining stance.

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US personal consumption expenditures rises 0.5% in April

personal consumption expenditure

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US personal consumption expenditure increased by $80.3 billion in April, or by 0.5%, the Bureau of Economic Analysis reported.

However, personal income decreased by $3.21 trillion, or 13.1%.

Meanwhile, disposable personal income (DPI) decreased by $3.22 trillion, or 14.6%.

Norsk Hydro, Equinor, RWE team up on offshore wind

Oslo-based Norsk Hydro announced it is teaming up with Equinor and RWE on a new offshore wind project in the Norwegian North Sea.

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Before we head into the weekend, let’s take a look back at the week that was here on MetalMiner, which included coverage of the Section 232 tariffs, the recent metals price pullback, China’s warning to commodity speculators and much more:

Each month, MetalMiner hosts a webinar on a specific metals topic. Explore the upcoming webinars and sign up for each on the MetalMiner Events page.

Week of May 24-28 (Section 232 tariffs, price pullback and more)

tariffs overlaid on US currency

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The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.

This morning in metals news: the US steel capacity utilization rate reached 79.0% last week; the state-owned Indonesia Battery Corporation and South Korea’s LG will build a $1.2 billion battery plant in Indonesia; and the copper price has cooled since reaching an all-time high earlier this month.

Each month, MetalMiner hosts a webinar on a specific metals topic. Explore the upcoming webinars and sign up for each on the MetalMiner Events page.

US steel capacity utilization rate at 79.0%

hot rolled steel

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US steel capacity utilization reached 79.0% for the week ending May 22, the American Iron and Steel Institute (AISI) reported.

The rate marked a decline from 79.2% posted the previous week. Meanwhile, the rate for the same week in 2020 had reached just 54.6%.

Production during the week ending May 22 totaled 1,793,000 net tons, down 0.3% from the previous week. However, the output total marked an increase of 46.6% on a year-over-year basis.

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This morning in metals news: Oslo-based Norsk Hydro has reached an agreement with a Brazilian university to explore the potential uses of bauxite residue from its mining operations; US natural gas-fired generation declined over the first four months of the year; and existing-home sales fell in April.

Each month, MetalMiner hosts a webinar on a specific metals topic. Explore the upcoming webinars and sign up for each on the MetalMiner Events page.

Norsk Hydro to explore uses of bauxite residue

Norsk Hydro logo

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Norsk Hydro recently announced it has reached a research agreement in which it aims to research uses of bauxite residue from its mining operations in the Brazilian state of Pará.

“The research will focus initially on using this waste in the production of cement floors that prove to be advantageous from the environmental point of view and throughout their life cycle,” Norsk Hydro said.

It will focus on potential uses in the construction sector, particularly in cement components.

The Laboratory of Microstructure and Eco-efficiency of the Department of Civil Construction Engineering of the Polytechnic School of University of São Paulo (USP) will conduct the research, Norsk Hydro said.

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Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner, including copper price developments, an upcoming MetalMiner webinar and more:

The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.

copper mine

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Week of May 17-21 (copper prices, MetalMiner webinar and more)

All the metals intelligence you need in one user-friendly platform with unlimited usage — request a MetalMiner Insights platform demo.

MetalMiner logoThis morning in metals news: an upcoming MetalMiner webinar will cover the signs metals buyers should look out for when assessing when allocation markets might be coming to an end; meanwhile, Ford Motor Co. took home a prize for advanced high-strength steel innovations; and, lastly, steel prices continue to rise.

The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.

Upcoming MetalMiner webinar

On Thursday, May 27, the MetalMiner team will host the next installment of our monthly webinar series. This time, participants will gain some insights about allocation markets and shortages. For example, what signs should buyers monitor to know when shortages are beginning to ease?

The 30-minute webinar begins at 11:30 a.m. CDT, Thursday, May 27. Registration is free. To sign up, visit the event’s registration page.

The webinar will be recorded, so those who miss it will be able to watch it later on-demand.

Meanwhile, MetalMiner CEO Lisa Reisman and Vice President of Business Solutions Don Hauser joined Roth Capital Partners yesterday for a webinar on metals pricing, supply and demand.

If you missed it and are interested in the conversation, register on the Roth website for access to the recording on-demand.

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This morning in metals news: several companies have collaborated on a solution that aims to allow for end-to-end cobalt traceability; meanwhile, the Associated General Contractors of America said rising materials prices threaten the economic recovery; and, lastly, the US, Canada and Mexico issued a trilateral statement on the United States-Mexico-Canada Agreement.

The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.

Companies collaborate on cobalt traceability solution

cobalt

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Several companies have collaborated to launch a pilot solution, dubbed ReISource, that will allow for “end-to-end cobalt traceability.”

A majority of the world’s cobalt is mined in the Democratic Republic of the Congo. Ethical concerns regarding labor conditions for cobalt miners in the country (including allegations of the use of child labor) have prompted some companies to act in an effort to shine a light on the supply chain, from mine to end use.

Glencore is teaming up with CMOC, Eurasian Resources Group (ERG) and battery material supplier Umicore.

“Tested in real operating conditions, from upstream cobalt production facilities in the Democratic Republic of the Congo (DRC) to downstream electric vehicle production sites, the pilot will run until the end of 2021, with the roll-out of the final solution expected in 2022,” Glencore said in a release.

Recently, MetalMiner’s Stuart Burns delved into the DRC government’s effort to clean up the artisanal mining sector (albeit with other motives, too).

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This morning in metals news: UC Rusal will demerge its high-carbon assets; meanwhile, steel industry groups issued a renewed call to the Biden administration to ask him to keep the Section 232 steel tariff in place; and the copper price has picked back up this week.

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UC Rusal to demerge high-carbon assets

Rusal logo

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En+ Group, parent group of Russian aluminum giant UC Rusal, announced today that the latter will demerge its high-carbon assets.

In addition, UC Rusal also plans to change its name to AL+.

The company plans to focus on developing inert anode technology and working toward production of carbon-free aluminum.

“This announcement is another major step in our journey to lead the global aluminium industry into the low carbon economy,” said Lord Barker, executive chairman of En+ Group. “AL+ will be a market leader in green aluminium production as measured by carbon footprint and other environmental credentials. However, this demerger additionally secures the future of important assets in Russia that also have a future in a low carbon world but which require a fundamentally different approach to technology and a different investment path to our major international businesses.”

Meanwhile, the demerged higher-carbon assets will form a new company under a new name. That includes alumina refineries in Russia (Achinsk, Pikalevo, Bogoslovsk and Ural) and smelters in Bratsk, Irkutsk, Novokuznetsk, Volgograd and Kandalaksha, all of which it says will undertake a “long-term modernisation programme.”

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