Although not accounting for more recent supply concerns, global copper mine production increased by 3.6% through the first seven months of the year, the International Copper Study Group reported. Stay up to date on MetalMiner with weekly updates – without the sales pitch. Sign up now. Global copper production rises through seven months Copper concentrate […]
Year: 2021
Aircraft aluminum demand likely to come back faster than previously thought
Few would argue that semiconductor shortages have hampered automotive output. Earlier in the year, automakers temporarily shuttered factories, cutting into output. According to Toyota, it would slash worldwide vehicle production by 40% in September because of the shortage. Globally, the market lost some 2 million vehicles due to chip shortages. As a result, automotive aluminum […]
This Morning in Metals: Chinese auto sales rise 14.9% month over month
This morning in metals news: Chinese auto sales picked up in September on a month-over-month basis; the Energy Information Administration forecast a significant jump in natural gas prices this winter; and, lastly, U.K. steel manufacturers are asking for government intervention in the ongoing energy crisis. Stay up to date on MetalMiner with weekly updates – […]
So much for a supercycle as China’s property market weighs on outlook
Bulls are pointing to the surging metals prices as evidence a supercycle is alive and well. However, no one but a snake oil salesman would suggest that what we are seeing is anything healthy. The 10-year commodities boom seen earlier this century, for example, was driven by rapid industrialization in China, a long-term expansion that […]
Week in Review: Global steel demand; aluminum alloys; store-of-value assets
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: Stay up to date on MetalMiner with weekly updates – without the sales pitch. Sign up now. Week of Oct. 18-22 (steel demand, aluminum alloys and more) Stuart Burns checked […]
This Morning in Metals: USITC rules aluminum foil imports from 5 countries harmful to US industry
This morning in metals news: the United States International Trade Commission this week issued a ruling on imports of aluminum foil from five countries; Ford of Europe reported a decline in sales and European market share; and, lastly, job openings rates declined in 21 states in August, the Bureau of Labor Statistics reported. Each month, […]
This Morning in Metals: BMW to source steel from Sweden’s H2 Green Steel
This morning in metals news: BMW announced Wednesday it will source steel from Swedish firm H2 Green Steel; meanwhile, miner Freeport-McMoRan today reported its third-quarter and nine-month 2021 results; and, finally, metal prices remain elevated but have taken a step back this week. Stay up to date on MetalMiner with weekly updates – without the […]
US housing starts slump in September; mortgage rates move above 3%
U.S. housing starts declined in September from the previous month, the Census Bureau reported this week. Each month, MetalMiner hosts a webinar on a specific metals topic. Explore the upcoming webinars and sign up for each on the MetalMiner Events page. This month, on Thursday, Oct. 28, the MetalMiner team will delve into the benefits […]
Power crisis in China drives aluminum alloy prices higher, threatening supplies
A timely post by the Financial Times covers the threat to the global auto industry as a result of the power crisis in China limiting supplies of key components used across a range of industries. But specific to the post is the making of aluminum alloys. Almost 90% of the world’s magnesium production comes from […]
The ‘B’ Word, Part 1: Store-of-value assets in a digital age
$3,623,000,000,000 — that is the increase of M2 money supply in 2020. By now, there should be no surprise what the effect of printing 23% of total USD has on commodity markets. Aluminum breached $3,000 per metric ton this week. Carbon steel price action is only now seeing moderate relief after what seemed to be […]