Economy
June 12, 2023
Rio Tinto said it has signed a memorandum of understanding (MoU) with Chinese steelmaker Baowu to explore projects in China and Australia to help decarbonize the steel value chain.
The global metals and mining company commented that the move follows the recently announced $2-billion Western Range joint venture in the Pilbara region of western Australia involving both Rio Tinto and Baowu.
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To kick off the official sessions of the 2023 Steel Summit, Dr. Anirban Basu, chairman and CEO of the Sage Policy Group, focused on the broader context in which steel prices are set, outlining major factors currently shaping economic outcomes in our country.
Mexico has decided to implement import tariffs on a number of products, among them, steel.
As mortgage rates continue to rise and housing demand slows, builder confidence is waning. A drop in July housing starts was the first in seven months.
Economic activity in the US manufacturing sector contracted for the ninth month in a row in July, according to the latest report on business from the Institute for Supply Management (ISM).