Daily Precious Metals Roundup: Chinese Silver, Gold Price Fall

by MetalMiner IndX Reports on May 16, 2012

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Chinese silver saw a three percent drop on May 15, 2012, landing at CNY 5,895 ($932) per kilogram and making it the biggest mover of the day. At JPY 718.00 ($9.00) per 10 grams, Japanese silver fell 2.7 percent on Tuesday. The price of US silver declined 0.6 percent to $28.17 per ounce. Indian silver closed 0.5 percent lower at INR 52,598 ($974) per kilogram.

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Renewables MMI®: US Steel Plate Tumbles a Bit

by MetalMiner IndX Reports on May 16, 2012

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After falling 1.1 percent, US steel plate was the week’s biggest mover on the Renewables MMI®. The US grain-oriented electrical steel (GOES) price remained essentially flat from the previous week. Closing just above $950 per metric ton, Korean steel plate remained unchanged for the week. Japanese steel plate prices held steady from the previous week at just above $1,000 per metric ton.

Chinese renewables prices were mixed for the week. The price of silicon dropped 0.7 percent this week, closing out the third consecutive week of falling prices. Prices for Chinese cobalt cathodes remained constant, closing the week at above $39,500 per metric ton. Neodymium remained unchanged for the week. Prices for Chinese steel plate remained constant, closing the week between $750-775 per metric ton.

The Renewables MMI® collects and weights 8 metal price points used extensively within the renewable energy industry to provide a unique view into renewable energy metal price trends. For more information on the Renewables MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

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Daily Global Aluminum Prices Roundup – LME, SHFE Drops

by MetalMiner IndX Reports May 16, 2012 Metal Prices

With a decline of 0.5 percent on the LME to $1,982 per metric ton on May 15, 2012, the cash price of primary aluminum recorded the biggest shift of the day on global aluminum markets. The LME 3-month price of primary aluminum saw a 0.5 percent decline as well, to $2,021 per metric ton. The [...]

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Daily Stainless Steel and Nickel Price Update – May 16, 2012

by MetalMiner IndX Reports May 16, 2012 Ferro Alloys

With a decline of 0.8 percent on May 15, 2012, the price of Chinese primary nickel recorded the biggest shift of the day on the stainless market. The price of Chinese 304 stainless steel scrap remained essentially flat between $2,900 and $2,950 per metric ton. The price of Chinese 316 stainless steel scrap held steady [...]

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Daily Copper Roundup: Chinese Bright Scrap Price Falls 5%

by MetalMiner IndX Reports May 16, 2012 Metal Prices

The day’s biggest price mover on copper markets, Chinese bright copper scrap, broke away from its dormant phase with a 4.8 percent drop on May 15, 2012, after three changeless days. Meanwhile, the price of Chinese copper wire fell 1.7 percent. Chinese copper bar stayed flat, holding below $9,200 per metric ton. The Chinese primary copper [...]

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Construction MMI®: US Gulf Coast Bar Fuel Surcharge Down Again

by MetalMiner IndX Reports May 16, 2012 Commodities

The week’s biggest mover on the Construction MMI® was the weekly US Gulf Coast bar fuel surcharge, which saw a 2.4 percent decline to $0.54 per short ton. Last week marked the fourth in a row of declining prices for the metal. Closing out the third week of declining prices, the weekly US Midwest bar [...]

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Steel Authority of India Sets Sights on Mongolia

by TC Malhotra May 16, 2012 Commodities

Not surprisingly, Indian steelmakers are looking towards mineral-rich Mongolia to get in on the action of the huge mineral wealth in that country. According to an Economic Times report, the state-owned Steel Authority of India Ltd. (SAIL) is considering replicating its successful public-private approach in both Mongolia and Afghanistan. SAIL has signed a Memorandum of Understanding [...]

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Commodity Prices Fall on China and Greece Fears

by Stuart Burns May 16, 2012 Commodities

Investors are a funny lot. The phrase “herd mentality” may have been created to describe the behavior of our four-footed friends, but it applies equally well to the investor fraternity. For months, the prospect of a slowing China and the departure of Greece from the euro have been on the cards, prompting some no doubt [...]

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