Black is white, right is wrong — you get the picture. Our Lead Forecasting Analyst Raul de Frutos says that most analysts are wrong to say that copper prices will lose value later this year.
What’s Cold-Rolled Coil Got to Do With It?
James May of Steel-Insight says the spread between U.S. CRC and hot-rolled coil steel prices cannot last. Domestic shipments of CRC were up 8.3% in 2016.
Going to Build That Wall…
The Trump administration may soon solicit bids for the planned border wall with Mexico. One of the suppliers mentioned is, surprisingly, Mexico’s Cemex. The major cement supplier says that it’s in for walling itself and the rest of Mexico off, if it’s asked to bid, of course. "We will gladly do it," Cemex President Rogelio Zambrano told the Mexican newspaper, Reforma.
Ross is Boss: Steel Industry Happy Wilbur Ross Confirmed at Commerce
Businessman Wilbur Ross was approved by the U.S. Senate this week to become Secretary of Commerce by a vote of 72–27, with 20 Democrats and Sen. Angus King (I-Maine), joining 51 Republicans in voting to put Ross in charge of the major bureaucracy that handles all matters of international and interstate trade. The American Iron & Steel Institute welcomed Ross with open arms saying, “Wilbur Ross’ clear focus on the challenges that the steel industry is facing, and his intent to use all of the tools at his disposal to ensure a level playing field, is great news for the domestic steel industry.”