The Copper Monthly Metals Index (MMI) moved sideways from August to September as the index rose 1.13%. Meanwhile, copper prices remain steady. Copper prices began to slide at the beginning of September. This came after they caught a temporary bounce in late summer. Prices then began to break through short-term lows, indicating the potential for further […]
Tag: copper price
Aluminum Prices: Is China Turning on the Stimulus Taps?
It is not an idle question. For the last two decades, China’s infrastructure spending has been the engine of demand growth for steel, copper, and aluminum prices. So when the South China Morning Post reported that local governments sold 1.94 trillion yuan (US$289 billion) worth of bonds in June to fund infrastructure spending and boost […]
Copper MMI: Copper Prices Fall to Lowest Since November 2020
The Copper Monthly Metals Index (MMI) dropped 10.69% between June and July. The copper price trend continues to go bearish.Copper price action continues to show massive bear trends and signals further declines. The continuous breakdown of short-term trading ranges fosters a volatile market. This leaves industrial buyers at risk of inventory value fluctuations. Spike in […]
Copper Prices Plunge, But Chile Remains Optimistic
Copper price and prices have long been considered a major indicator of global economic health. So when they plunged to 16-month lows on June 23, investors quickly hit the “panic button.” According to this CNN Business article, the commodity’s 11% drop over two weeks shows that global growth is slowing. However, not everyone agrees. Chile’s […]
Copper MMI: LME copper prices slide ahead of Fed rate hike
Copper prices rebounded sharply after declines in early May. While prices continue to find a bottom on a macro scale, they remain sideways in the short term. As a result, copper has been unable to establish a clear direction, either bullish or bearish.The Copper Monthly Metals Index (MMI) fell by 2.89% month over month. Copper […]
Copper MMI: Copper Prices Fall with Chinese Lockdowns
Starting in late April, copper prices began to take out prior lows. It seemed like an attempt to find a bottom and reestablish a potential bullish reversal in the short term. The Copper Monthly Metals Index (MMI) fell by 3.04% month over month. Know what to do when the trend shifts. Related article: The Art […]
The Metals Forecast: Are The Bears Back in Town?
Following a strongly inflationary metal environment in Q1, Q2 2022 is looking like a whole different ballgame. Indeed, it’s no secret that the global economy is currently facing a number of major challenges. Alone, none of these would be enough to derail us from last year’s strong rebound. When added together, however, they’re helping to […]
Let’s Not Forget China
Russia’s invasion of Ukraine has sent shock waves throughout global metals markets. However, it’s important to remember that the most consistent longer-term driver of metal prices is Chinese demand. That’s why it’s surprising to see how little attention has been paid to the world’s largest consumer and producer of metals in recent months. It’s understandable […]
Green energy boom now biting all of Europe — and the USA, too
In 2018, a pair of us on the MetalMiner team attended the “premier aluminum conference in Europe” — Aluminum 2018 Dusseldorf. Although Dusseldorf felt like a charming Ohio blue collar town with good beer, one of us left the event with a deep cough (obviously pre-Covid). Oddly enough, the weather alert app kept displaying daily […]
Metal inventory levels dwindle and that could hit metal prices
While inventory levels serve as an interesting measure for fundamental analysis, that measure remains irrelevant for the short term. But when inventory levels change dramatically and over a longer time frame, they can have both an impact on price and also reflect more profound changes within the market. Ultimately, if not immediately, those factors could […]