The Copper Monthly Metals Index (MMI) rose by 3.5% month over month, as copper prices have continued to trade sideways. Copper prices continued to trade within a sideways range. This costs industrial buyers purchasing opportunities due to the overall risk of holding inventory in the event of sudden, volatile price fluctuations. Traders, however, took advantage […]
Nichole Bastin
Aluminum MMI: LME aluminum prices retreated from all-time high
The Aluminum Monthly Metals Index (MMI) increased by 4.0%, as aluminum prices retreated from an all-time high. Aluminum prices remain bullish Aluminum prices showed downside price action and headed toward the previous month’s dips. Such declines do not change the overall outlook toward the upside. Aluminum prices continue to form chart structures that suggest overall […]
Raw Steels MMI: Drop in US steel prices could hit roadblocks; European steel prices rise
The Raw Steels Monthly Metals Index (MMI) rose by 4.9% month over month, even as U.S. steel prices continue to fall (at least for now). U.S. steel prices, with the exception of plate, continue their descent in spite of curtailments and capacity delays instituted by steelmakers. Hot-rolled coil prices have closed in on the $1,000/st […]
Stainless MMI: Trading halted following nickel price spike
The Stainless Monthly Metals Index (MMI) rose by 7.6% from February to March, as the skyrocketing nickel price prompted LME intervention Tuesday. LME suspends trading due to short squeeze Russia accounts for roughly 7% of global nickel supply. So, the possibility for supply disruptions, on the back of mounting sanctions from the West, adds pressure […]
Copper MMI: Copper prices remain stable after Russian invasion but jump in early March
The Copper Monthly Metals Index (MMI) rose 1.7% month over month, as copper prices remained range-bound in the immediate aftermath of Russia’s invasion of Ukraine. However, copper prices have jumped to start March. Copper prices remained significantly unaffected by the conflict between Russia and Ukraine. From a mining perspective, more copper supply is scheduled to […]
Aluminum MMI: Aluminum prices spike amid escalation of Russia-Ukraine war
The Aluminum Monthly Metals Index (MMI) climbed by 8.0%, as aluminum prices spiked on the heels of Russia’s invasion of Ukraine. Aluminum prices spiked as tensions escalated between Russia and Ukraine. However, aluminum prices then began a slight decline before the launch of Russia’s full-scale invasion. MetalMiner publishes a wide range of aluminum price points […]
Renewables and GOES MMI increase despite steel price decline
The Renewables Monthly Metals Index (MMI) rose by 4.6% month over month. California to add more renewables, batteries The California Public Utilities Commission (PUC) approved plans in early February to expand renewables and batteries as part of California’s power resources. The decision supports California’s larger ambitions to procure all of its electricity from clean sources […]
Construction MMI: Sector remains strong
In The Construction Monthly Metals Index (MMI) increased by 0.6% month over month. US construction spending rose in 2021 U.S. construction spending reached a seasonally adjusted annual rate of $1,639.9 billion in December, the Census Bureau reported. The December rate marked a 0.2% increase from the revised rate November. Furthermore, the December figure jumped by […]
Stainless MMI: Nickel surged to 11-year high
The Stainless Monthly Metals Index (MMI) rose by 7.46% from January to February. Nickel prices surged to an 11-year high last month, due to plummeting LME warehouse inventories. Prices retraced in late January after a minor sell off, but managed to rebound. As prices climb toward recent highs, they may either breakout to new levels. […]
Raw Steels MMI: Prices slide while capacity grows
The Raw Steels Monthly Metals Index (MMI) fell by 4.6% month over month. U.S. steel prices continue to fall, led by HRC. Plate prices moved sideways. Nonetheless, they remain beneath their peak. U.S., Japan reach Section 232 tariff agreement The U.S. and Japan reached an agreement regarding steel imports from Section 232 tariffs. Announced Feb. […]
