Aluminum prices reached a high price of almost $4,000 per metric ton on the LME primary 3-month in 2022. However, there were plenty of sales for roughly half that amount, attesting to the wide range of the 2022 index. When March’s rally ended, prices began a decline that resulted in them hitting a yearly low […]
The MetalMiner Team
Steel Prices and Global Market: a 2022 Review
Steel prices endured long-term declines throughout 2022. However, with so many geopolitical events and supply chain pinches, it is important to note that the market in general was quite volatile. Steel Prices: Q1 of 2022 Raw steels started the year with a huge bang, rising over 12% between January and February. China’s climate efforts caused […]
Could Macroeconomics Cause a Steel Price Reversal?
Uncertainty regarding China’s stance on zero-COVID, when restrictions might ease, and riots within China throughout recent weeks have all contributed to more flat steel prices. What’s more, recession fears are starting to notably impact commodities. Yet another contributing factor? Fears of a railroad strike. With the cut-off date for meeting railroad unions’ terms fast approaching, […]
Global Precious Metals MMI: Gold Hits Yearly Low
The September Global Precious Metals MMI (Monthly Metals Index) moved sideways, dropping by just 1.8%. Despite the slight loss, month-over-month, gold prices hit lows not seen in around two years. MetalMiner’s FREE September webinar is tomorrow! Learn how to gauge metal prices and explore battery metal pricing. Sign up here! Gold Hits Yearly Low Amid […]
Stainless Steel MMI: Nickel Prices Move Sideways, Begin to Climb in September
By Nichole Bastin and Katie Benchina Olsen The Stainless Steel Monthly Metals Index (MMI) dropped 5.08% from August to September. Nickel prices began to rise this month, breaking through prior highs visible on shorter time frames such as the hourly and daily charts. Ultimately, prices bounced off bullish zones formed before the LME’s shutdown in […]
Stainless Steel in a “Commodity Standoff”
Stainless steel prices continue to struggle as we approach the final quarter of the year. Meanwhile, nickel prices float just above their 2021 average, closing August at $21,320 / mt. Both indices seem to indicate an overly-cautious marketplace, with buyers and sellers seemingly waiting to see what the other will do. This sort of “commodity” […]
Should We Prep for a Zinc Price Rally? Many Say Yes
If you look at zinc price trends from this past year, it’s hard to identify what you might call a “clear trend.” After building from a pandemic-driven low of just $1,960 a ton, the metal skyrocketed to over $4,500 just four months ago. Unfortunately, pride cometh before a fall. And fall zinc did. In fact, […]
