The Week in Metals, Aerospace and Brexit

Time for a direct materials-focused update from our network's sister site. Here are the top stories from the world of metals, industrial and otherwise, in case you missed them.

Steel Imports Down… Prices, Too?

Steel imports are falling, even as domestic prices drop in tandem. Maybe tariffs are getting the job done by curtailing imports but are they having the desired effect on prices?

Year-to-date, through eight months of 2016, total and finished steel imports are 21,962,000 and 17,601,000 nt, down 22% and 23%, respectively, vs. the same period in 2015. Annualized total and finished steel imports in 2016 would be 32.9 and 26.4 million nt, down 15% and 16%, respectively, vs. 2015, if the current trends hold.

Gold Drops More Than $40/Ounce in One Day

On Monday, gold dropped more than $40/ounce and hit a new, post-Brexit low. Precious metals, as a class, are starting to see their prices fall because economic data has been upbeat and the U.S. dollar has gotten stronger. All that glitters might not be gold but, lately, it doesn’t have to be.

Even High Flying Aerospace is Slowing Down

The aerospace market is often called the most lucrative and sought-after of metals markets. Heck, Alcoa split itself in two, in part, to better serve it. However, our Stuart Burns points out that aircraft production’s supply chain is slowing down as consumers are holding back on orders because they don’t need to wait very long to get next-gen models.

Cat Fight! Brexit Fallout Extends to Pet Kitties

While we implored both sides in the Brexit vote to be reasonable last week, dueling cabinet office felines let the fur fly in a press conference this week. Number 10 Downing Street added Larry, chief mouser to the cabinet office, back the beginning of former PM David Cameron’s term. The Treasury added its own chief mouser, Palmerston, last year. Larry is said to be a stay proponent while Palmerston is a leavist. The claws came out as the week began. Can’t we all just get along?

Here's to a better next week, Spendies!

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