The Raw Steels Monthly Metals Index (MMI) dropped by 2.5% month over month. Stop obsessing about the actual forecasted steel price. It’s more important to spot the trend. Auto steel demand shows weakness Steel prices appear poised for a decline in coming months as auto steel demand shows weakness and new capacity is set to […]
Nichole Bastin
Copper MMI: Tight copper market sees high prices
The Copper Monthly Metals Index (MMI) rose by 3.5% for this month’s reading. Copper had a phenomenal rally since 2020 that saw LME prices ascend nearly 132% to $10,720/mt in May 2021. Since the summer of 2021, however, price action indicates some consolidation after prices tested the $10,250/mt mark earlier in October. From a technical […]
Aluminum MMI: Following all-time high, aluminum prices plummet
The Aluminum Monthly Metals Index (MMI) fell for the first time in nine months, dropping by 1.5%. After prices hit the record peak in late October, aluminum started to face some speed bumps when the price attempted to continue to trade upward. Since Beijing’s intervention into the coal market, LME aluminum prices began to retrace […]
Week in Review: Aluminum prices reach 10-year high
Before we head into the weekend, let’s take a look back at the week’s news and some of the metals storylines here on MetalMiner: Aluminum prices reach 10-year high while a coup in Guinea threatens to disrupt global bauxite supply, China-Australia iron ore trade surges ahead despite ongoing tensions; and see MetalMiner’s analyst-driven Monthly Metals […]
This Morning in Metals: China to auction crude oil from its strategic reserves
This morning in metals news: In a bid to aid domestic refiners currently limited by steep energy costs, China announced plans to auction crude oil from its strategic reserves. In other news, Shell declares force majeure as Hurricane Ida’s fallout continues. Also in the news, July steel shipments show 37% year over year rise. Cut-to-length […]
This Morning in Metals: Aluminum prices reach 10-year high following Guinea coup
This morning in metals news: Aluminum prices reach 10-year highs after a coup in Guinea threatens to disrupt global bauxite supply. In other news, steep commodity prices send China’s factory-gate inflation to a 13-year high. Also in the news, Hurricane Ida’s damage leaves more than 75% of U.S. Gulf of Mexico oil production offline. Each […]
Metal News for the Day: On Monday, there is an almost 3% decrease in oil prices
This morning in metals news: Oil price fall nearly 3% on Monday. Chinese steel exports rise in July. Copper and cobalt production to double at Tenke Fungurume mine in the DCR with a $2.5 billion investment from a Chinese firm. Cut-to-length adders. Width and gauge adders. Coatings. Feel confident in knowing what you should be […]
Week in Review: Natural gas prices soar; China steel reduction; Aluminum prices
Before we head into the weekend, let’s take a look back at the news that was and some of the metals storylines here on MetalMiner: Soaring natural gas prices and inflation; China’s aims to further reduce steel output; Aluminum prices near a decade high, according to our Monthly Metals Index coverage. Look for the Copper […]
This Morning in Metals: Global semiconductor shortage may continue into 2023
This morning in metals news: The global semiconductor shortage may continue into the next year or more. In other news, after failing to reach an agreement Thursday on the $1 trillion infrastructure bill, the U.S. Senate aims to finalize it Saturday. Also in the news, South Korea plans to raise its stockpiles of 35 “critical […]
This Morning in Metals: US executive order expected for 50% zero-emissions vehicles by 2030
This morning in metals news: An executive order is expected Thursday from President Joe Biden pledging that 50% of new vehicles sold in 2030 be zero-emissions. In other news, EVE Energy announced plans for a lithium-ion battery facility in China. Also, GFG settles disputes with Tata Steel and Rio Tinto following financing issues. The MetalMiner […]
