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Copper prices advanced last week but started this week on the backfoot, with COMEX futures easing to around $2.37/lb. while in London LME 3-mo. copper slipped to $5,260/mt. On the metals front, Reuters reports today that “China’s environment ministry on Monday called on China Minmetals Corp to improve implementation of environmental protection measures and oversight...

In Europe, we’ll get new EU and UK industrial production figures along with GDP estimates for the UK and Germany. The Financial Times reports “The Bank of England last week forecast that the pandemic will push the UK economy into its deepest recession in 300 years, with output plunging almost 30 per cent in the...

Prior to last week’s report, the record for largest monthly drop in nonfarm payrolls came in September 1945 at a little less than 2 million, according to Labor Dept. figures. The job losses were widespread across the economy as 1.33 million manufacturing jobs were lost, along with more than 2.5 million education/health jobs, and 7.65...

First quarter 2020 scrap exports of just under 9 million metric tons were little changed (up around 1%) as compared to the first quarter of 2019, when shipments got off to an extremely slow start to the year in Jan-Feb. In dollar terms, the Commerce Dept. data show U.S. scrap exports were up 11% year-on-year...

That vehicle you see in your review mirror may be approaching faster than you think. Social distancing and state mandated “stay-at-home” orders due to COVID-19 have resulted in decreased traffic volume nationwide. However, this does not necessarily mean the highways are safer. Many jurisdictions are reporting an increase in speeding violations (especially in excess of...