Author Archives: Belinda Fuller

The Copper Monthly Metals Index (MMI) held at a value of 70 this month based on a mix of mild price changes globally.

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LME copper prices traded sideways during most of February, following late January’s precipitous price drop. However, the price weakened again in early March.

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The Aluminum Monthly Metals Index (MMI) dropped three points once again, falling to 80 this month.

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After holding sideways for most of February, LME aluminum prices once again grew weaker later in the month. Prices hit new short-term lows as of early March.

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The Stainless Steel Monthly Metals Index (MMI) declined by three points this month to 67, following a five-point decline last month.

LME nickel prices continued to slide as global markets reacted to production delays due to coronavirus, which weakened demand and prices.

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The Raw Steels Monthly Metals Index (MMI) lost two points during the past month — indicating prices weakened slightly — for a March reading of 69.

Chinese price weakness led the index decline, as all Chinese prices fell (with the exception of Chinese coking coal).

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U.S. steel prices for the four key forms weakened in February for the four key forms in the range of roughly 2-4%.

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The Aluminum Monthly Metals Index (MMI) reversed last month’s three-point increase with a three-point decline back to 83.

LME aluminum price dynamics switched late in January, with a precipitous drop setting prices down to a new short-term low.

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The Copper Monthly Metals Index (MMI) dropped six points this month to 70, a new long-term low, although close in value to October 2019’s reading of 71.

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LME copper prices rallied as January progressed then dropped precipitously later in the month due to demand uncertainty stemming from the coronavirus outbreak in China.

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The Stainless Steel Monthly Metals Index (MMI) gave up five points this month, setting the value back to 70.

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LME nickel prices dropped slightly below the $13,000/mt price level in late January when industrial metals prices, generally speaking, declined as markets reacted to China’s coronavirus situation.

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The Raw Steels Monthly Metals Index (MMI) gave up some of last month’s gains with a one-point drop to 71 (following a three-point increase to 72 last month).

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Recent U.S. steel price increases flattened out in January, while plate prices dropped back somewhat from recent price highs.

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The Raw Steels Monthly Metals Index (MMI) showed some strength again this month with another three-point increase, rising to 72.

U.S. HRC and scrap prices increased quite a bit, while LME billet prices also registered double-digit increases.

Key forms of steel increased across the board in the first half of December 2019. Plate prices increased the most, with prices spiking a couple of times during the month.

Source: MetalMiner data from MetalMiner IndX(™)

However, HRC, CRC and HDG increases lost some steam later in December.

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Following from the long-running case recently won by the U.S. over whether the European Union (E.U.) provided Airbus with subsidies, on Dec. 2 the World Trade Organization (WTO) rejected the E.U.’s claim that subsidies were no longer provided to Airbus.

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This ruling gave the U.S. scope to execute an additional Review of New Tariffs on E.U. imports.

On Dec. 12, the U.S. Trade Representative (USTR) issued a notice additional products may see tariff rates of up to 100%, as listed in Annex II, posted at Regulations.gov.

This annex includes only products not currently affected by Airbus-related Section 301 tariffs issued during late 2019.

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