Overall, the Aluminum Monthly Metals Index (MMI) remained sideways, with a 2.03% rise from March to April. Aluminum prices outperformed all base metals throughout March, with a 4.71% rise from the close of February. Prices continued their rally throughout April, hitting their highest level since February 2023 by April 8. Aluminum Prices Chase 2023 Highs […]
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Aluminum MMI: Aluminum Prices Rise As China Output Slows
Aluminum prices remain entrenched within a sideways trend. Following a 2.78% month-over-month decline in February, prices retraced throughout the first three weeks of March to where they currently stand: 2.17% above their February close. Overall, the Aluminum Monthly Metals Index (MMI) moved sideways, with a 2.36% decline from February to March. AI vastly improves your […]
Subdued Market Reaction So Far to China’s Targeted 2024 Growth Rate
Investors, traders, and the metals community continue to anticipate fresh stimulus measures from China’s top leaders, which could potentially kickstart economic growth, increase metals consumption, and affect metal prices. However, they remain rather disappointed with Beijing’s target 5% growth for 2024. Moreover, demand has remained subdued since the Lunar New Year holiday. Almost everyone was […]
Rare Earths MMI: Is China Moving Down the Rare Earths Totem Poll?
The Rare Earths MMI (Monthly Metals Index) experienced a pretty significant drop month-on-month, falling 24.73%. Save for cerium oxide, all components of the index either fell or moved sideways. Weaker than anticipated downstream demand ended up hitting certain metals related to rare earth magnets particularly hard, causing a plummet in the index. Another significant factor […]
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 […]
China’s Iron Ore Imports Surge Despite Evergrande Crisis
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 […]
Copper MMI: Copper Prices Remain Sideways as China Uncertainty Looms
Copper prices today remain trapped in a sideways range. Prices lack enough bearish or bullish momentum to establish a strong trend in either direction. Prices declined during the first weeks of January, falling to their lowest level since November. However, they rebounded in the second half of the month. This brought them a mere 0.52% […]
China’s Economic Jitters: Evergrande Liquidation Sparks Global Concerns
The recent liquidation order by a Hong Kong court of debt-ridden Chinese property giant Evergrande has once again raised that dreaded question: is China’s economy a ticking time bomb? It is a question experts continue to ask amid worsening Chinese construction news. Not long ago, two rival property construction firms, Evergrande and Country Garden, were […]
Copper Demand: Australian Exports to China Surge to Record High, Signaling Thaw in Relations
The frosty relationship between China and Australia continues to thaw, as evidenced in the bi-lateral trade indices indicate. Now, thanks to China’s growing copper demand, the world possesses one more indicator. According to recently released data, Australia exported 27,500 metric tons of copper ores and concentrates to China in November last year. At U.S. $44.5 […]
Is China’s Surge in Crude Oil, Coal, and Iron Ore Imports Really a Sign of Economic Strength?
News coming out of China indicates the country set new records in 2023 for the import of crude oil, coal, and iron ore. The revelation caught many by surprise, but analysts caution that this may not really signify a robust demand for these essential materials. Nor does it indicate that there has been any reversal […]
