Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner.
In addition, our May 2021 Monthly Metals Index (MMI) PDF is now available for download. The PDF summary includes an executive summary, trends chart and portions of each MMI article (with each page including a link to the full article).
This month’s MMI continued the general theme of rising prices. Copper, for example, reach an all-time high this week. Iron ore and steel skyrocketed, while just about everything else also moved upward.
As for stainless steel, the United Steelworkers union’s ATI strike continues. The MetalMiner team broke down the stainless market recently as part of our monthly webinar series, a video replay of which is available in the MetalMiner video archive.
The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.
Week of May 10-14 (the copper price, U.S. Steel’s big announcement and much more)
- MetalMiner CEO Lisa Reisman and Vice President of Business Solutions Don Hauser weighed in on U.S. Steel’s cancelation of plans to upgrade its Mon Valley Works operations.
- Century Aluminum reported a 14% jump in sales but a net loss of $140 million in Q1.
- MetalMiner’s Stuart Burns took a look at the silver price and views on where it might go the remainder of this year.
- The gold price recently reached a three-month high.
- Burns on rising cobalt prices this year as electric vehicle demand continues to build.
- US steel capacity utilization fell to 78.1% last week.
- Iron ore prices skyrocketed in Asia this week, prompting Chinese steelmakers to raise their prices.
- The copper price soared to an all-time high this month.
- Aluminum physical delivery premiums have also surged over the past three months.
- Novelis reported net income of $180 million, powered in part by strong aluminum prices.
- Steel prices around the world continue to rise, including an over 10% rise for hot rolled coil.
- MetalMiner contributor Sohrab Darabshaw on Tata Steel’s latest quarterly report.
- Barksdale Resources will acquire 100% of the Sunnyside copper-lead-zinc-silver project.
- The United Steelworkers strike at ATI continued into its seventh week this week.
- Consultancy GlobalData forecasts copper production from the world’s top 10 copper miners could rise by up to 3.8% this year.
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