Category: Commodities

Indonesia’s Nickel Dominance Spells Trouble for Global Industry

Indonesia’s Nickel Dominance Spells Trouble for Global Industry

The global nickel mining industry is under stress, and the primary reason is an oversupply of low-cost nickel from Indonesia. Moreover, this constant supply continues to support a major global surplus, placing downward pressure on the nickel price. At this point, the Southeast Asian nation has already cornered more than half of the world’s supply […]

Metinvest Reports Drop in Steel Production Amidst Russian Invasion

Metinvest Reports Drop in Steel Production Amidst Russian Invasion

Ukrainian metals and mining group Metinvest recently reported a 31% decrease year on year in its crude steel production for 2023, citing Russia’s ongoing invasion of the country. The company halted steel manufacturing activities at its assets in Mariupol, Avdiivka, and Zaporizhzhia two years ago. This includes the Azovstal, Ilyich Steel, Avdiivka Coke, and Zaporizhzhia […]

Tesla’s Steel Causes Strain…and Stain

Tesla’s Steel Causes Strain…and Stain

The world may have come to expect near-perfection from Elon Musk and his products, resulting in the slightest problem with any of them getting amplified in the media. Nonetheless, the latest U.S. steel news has not been kind to Tesla’s recently-launched and significantly delayed electric Cybertruck. The truck started shipping last December, having seen several […]

UK Places Hot Rolled Steel Imports Under Scrutiny with Tata Steel Closure Plans

UK Places Hot Rolled Steel Imports Under Scrutiny with Tata Steel Closure Plans steel news at Port Talbot

The United Kingdom’s Trade Remedies Authority (TRA) recently initiated a suspension review on safeguard measures against hot rolled flat and coil steels. Steel news sources report that the move also came alongside a tariff quota review. TRA reported on February 9 that both Tata Steel UK (TSUK) and steel trader Kromat Trading filed applications for […]

China’s Aluminum Exports to EU Plunge 30% Under Carbon Tariff

China’s Aluminum Exports to EU Plunge 30% Under Carbon Tariff

Earlier this week, the China Nonferrous Metals Industry Association reported a 30% decline in the volume of aluminum products exported from China to the European Union. Aluminum manufacturing analysts quickly pointed out that this most likely resulted from the bloc’s 2023 carbon border tariff. The EU’s Carbon Border Adjustment Mechanism (CBAM) represents a new way […]

Aluminum MMI: Aluminum Prices Sideways After U.S. Smelter Closure

Aluminum MMI: Aluminum Prices Sideways After U.S. Smelter Closure aluminum smelting, price of aluminum

Following a 4.7% month-over-month decline during January, aluminum prices fell an additional 1.9% throughout the first half of February. Despite these declines, aluminum prices continued to trade in their long-term sideways range. Meanwhile, the Midwest Premium also remains consolidated, with prices retracing to the downside following a short-lived bounce at the end of January. Overall, […]

Global Precious Metals MMI: Precious Metal Prices Edge Further Down Month-on-Month

Global Precious Metals MMI: Precious Metal Prices Edge Further Down Month-on-Month Precious metals and investments

After almost a year of sideways movement, the Global Precious Metals MMI (Monthly Metals Index) broke its trend, declining by 4.71%. Despite the break in sideways movement for precious metal prices as a whole, most individual commodities still lack strong bullish or bearish movement as they move through Q1. Most gold and other precious metals […]

Renewables/GOES MMI: The “Dirty” Business of Disposing of Solar Panels

Renewables/GOES MMI: The “Dirty” Business of Disposing of Solar Panels Solar Panel Waste

Numerous factors continue to pull at the Renewables MMI (Monthly Metals Index) as it moves through Q1. This past month, the index largely moved sideways, only exhibiting a slight upward movement of 1.66%. Meanwhile, renewable energy news indicated that metals like cobalt and silicon could remain in oversupply for some time. Moreover, expanding mining operations […]

China’s Iron Ore Imports Surge Despite Evergrande Crisis

China’s Iron Ore Imports Surge Despite Evergrande Crisis Evergrande

The first month of 2024 saw iron ore kick-off to a strong start, mainly due to increasing prices and substantial imports by China. Looking at iron ore futures, many investors were optimistic that the world’s largest purchaser of ore would continue implementing sufficient stimulus measures to enhance demand. Iron ore is a critical ingredient in […]

Raw Steels MMI: Steel Prices Decrease as Nippon Deal Faces Setback

Raw Steels MMI: Steel Prices Decrease as Nippon Deal Faces Setback hot rolled coil steel prices and steel news.

The Raw Steels Monthly Metals Index (MMI) fell 11.17% from January to February as steel prices declined. U.S. flat rolled steel prices continued to slide after finding a peak at the close of 2023. Following a 2% decline throughout January, hot rolled coil prices fell over 5% during the first half of February. HRC prices […]

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