Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner, including the Suez Canal blockage, the April 2021 MMO, Western European hot rolled coil prices and much more:
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Week of March 29-April 2 (Suez Canal retrospective, HRC in Western Europe, April MMO report and more)
- US steel imports fell in February from the previous month.
- This week, the MetalMiner Monthly Metal Outlook (MMO) report went out to subscribers.
- Workers at the Bradken steel manufacturing plant in Atchison, Kansas, went on strike.
- Meanwhile, MetalMiner’s Stuart Burns again checked in on the existential crisis at Liberty Steel.
- Although the container vessel Ever Given is no longer blocking the Suez Canal, the weeklong disruption will have lingering effects.
- Nucor Corporation announced plans to invest $164 million to build a new tube mill near its Gallatin, Kentucky plant.
- The United Steelworkers union this week announced a strike at nine Allegheny Technologies Inc. facilities.
- Hot rolled coil prices continue to rise in Western Europe.
- Meanwhile, Chile’s industrial output and copper extraction fell in February, the country’s National Statistics Institute reported.
- Circling back to the Suez Canal, Burns expounded on how China and Russia could view the blockage as an opportunity to push alternatives.
- US steel capacity utilization ticked up to 77.6% last week, the American Iron and Steel Institute (AISI) reported.
- This week, President Joe Biden released details of his American Jobs Plan.
- Domestic metals industry groups offered up initial reactions to the American Jobs Plan details.
- Lastly, Rio Tinto announced it has joined Japan’s Green Value Chain Platform Network, which aims to lead transparency in decarbonization efforts in the country.
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