Week in Review: Aluminum prices move sideways; GM announces rare earth magnet collaboration; copper prices consolidate

by on

Before we head into the weekend, let’s take a look back at the week that was and some of the metals coverage here on MetalMiner, including coverage of aluminum prices, a General Motors collaboration with MP Materials aimed at developed a fully integrated U.S. rare earth magnet supply chain and much more:

See why technical analysis is a superior forecasting methodology over fundamental analysis and why it matters for your aluminum buy.

Week of Dec. 6-10 (aluminum prices, rare earth magnet supply chain and more)

aluminum price

Grispb/Adobe Stock

  • Nucor Corporation announced plans to build a rebar micro mill in the South Atlantic region. The company already has rebar micro mills in Missouri and Florida.
  • U.S. automotive sales remain depressed as a result of low inventory.
  • U.S. construction spending through the first 10 months of the year jumped 7.5% year over year, the Census Bureau reported.
  • The U.S. steel capacity utilization rate dipped to 81.9% last week, the American Iron and Steel Institute reported.
  • Aluminum prices trended sideways in November, MetalMiner analyst Nichole Bastin explained.
  • Energy prices are on the rise in Europe, putting the squeeze on both residential and industrial users.
  • Like aluminum prices, copper prices also consolidated in November after an October spike.
  • Bastin checked in on the stainless steel market, including nickel price volatility.
  • General Motors said it will invest $51 million toward equipment for its aluminum die casting foundry in Bedford, Indiana.
  • Stuart Burns also took a look at aluminum prices and China’s impact on the aluminum market.
  • China introduced a draft plan to reduce emissions from metals by 5% by 2025.
  • Lastly, in the rare earths space, General Motors announced a collaboration with MP Materials to develop a fully integrated supply chain for rare earth magnets. MP materials operates the Mountain Pass rare earths mine and processing facility in California.

Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today. 

Leave a Comment

Your email address will not be published. Required fields are marked *