Precious metal prices (especially silver) began a brief rally on July 12 before retreating again. Whether or not the bulls are here to stay is a question up for debate. Many remain optimistic that gold prices will continue upward until the end of 2023. However, gold and other precious metals markets still face some bearish […]
The MetalMiner Team
Metal Prices: Hot-Rolled Coil Trends Down, Nickel Appears Bearish
Metal prices demonstrated increasingly-bearish short-term movement over the past couple of weeks. HRC, for instance, continues to trend downward while nickel faces extensive bearish pressure. But while prices may continue to decline in the short-term, will the long-term trend continue? Nickel in a Bearish Market Nickel prices fell more than 20% in the first three […]
Global Precious Metal MMI: Precious Metal Prices Losing Momentum
The Global Precious Metals MMI (Monthly Metals Index) traded sideways month-on-month. Overall, the index fell 2.75% as numerous components lost upward price momentum. All parts of the index moved sideways or fell slightly, except for Indian silver ingots and U.S. gold bullions. Though Fed’s hawkishness has managed to impact precious metal prices in the U.S, […]
Stainless MMI: Price of Nickel and Stainless Steel Continue to Drop
The Stainless Monthly Metals Index (MMI) dropped 4.68% from February to March. Meanwhile, the price of Nickel also fell significantly. Does your company have a stainless buying strategy based on a recessionary market? Stainless Spot Pricing for Buyers U.S. cold rolled stainless steel import licenses remain depressed. Indeed, many importers appear apprehensive, as it remains […]
Raw Steels MMI: U.S. Steel Prices Continue Uptrend
The Raw Steels Monthly Metals Index (MMI) rose by 8.74% from February to March. The growth was largely due to the massive increase in the U.S. HRC Futures contract, which jumped by nearly 49%. Because of this, steel prices reacted accordingly. HRC prices continue to show bullish strength in the short term, even breaking out […]
Aluminum MMI: Price of Aluminum Falls, Tariffs Back On
Aluminum prices reacted bearishly in the short term. At the beginning of February, price action showed a short-term sideways trend with no new lows or highs. Indeed, the price of aluminum would need to break out of its current range to form a continuation trend or a reversal downward. However, future price direction currently remains […]
2022 Stainless Steel and Nickel Price Trends
Stainless and nickel price trends fluctuated much more than carbon steel throughout 2022. The LME nickel squeeze greatly strained both the nickel and stainless steel markets. Indeed, LME nickel prices skyrocketed by almost $25,000 per metric ton back in March. Soon after, the rally cooled down again, eventually bottoming out in July. Come November, prices […]
Copper Price Trends: 2022 Review
Looking at 2022 copper price trends, the market was nearly as volatile as metals like nickel and aluminum. Currently, copper prices are attempting to break prior highs but have yet to get there. As copper taps into short-term resistance levels, the possibility of a pullback in price appears more and more likely. Meanwhile, the copper […]
Aluminum Prices and Global Market: a 2022 Review
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 […]
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 […]