Overall, the Copper Monthly Metals Index (MMI) fell 6.66% from June to July. Following a nearly 5% decline throughout June, copper prices found an at least temporary bottom at the end of the month. Prices rose 4.35% during the first week of July as market signals improved. There are numerous factors affecting copper prices today. […]
Nichole Bastin
Stainless MMI: Bearish Stainless Demand Leads to Steep Discounts
Overall, the Stainless Monthly Metals Index (MMI) reversed to the downside, with a 10.88% drop from June to July. Nickel prices experienced heavy losses during June, securing the title of worst-performing base metal with an over 14% decline. Prices had fallen over 19% from their May 20 peak by early June as they remained in […]
Stainless MMI: Stainless Demand Slow, NAS Determines New Ferrochrome Pricing
Overall, the Stainless Monthly Metals Index (MMI) rose 3.89% from May to June. The nickel price mirrored other base metals, finding a peak on May 20 before inverting to the downside. By the close of June 20, nickel prices had fallen over 19%, returning to their lowest level since early April. That said, they remain […]
Aluminum MMI: Aluminum Prices Drop As Investment Funds Pull Back
Overall, the Aluminum Monthly Metals Index (MMI) rose 4.09% from May to June. Aluminum prices outperformed all other base metals throughout May, with a 5.28% rise. Prices found a peak at their highest level since June 2022 on May 29 before losing all of May’s gains during the first three weeks of June. MetalMiner’s Annual […]
Copper MMI: Copper Prices Reverse as Speculative Rally Unravels
Overall, the Copper Monthly Metals Index (MMI) rose 3.48% from May to June. A short squeeze helped the price of copper peak at a new all-time high in late May, followed by a sharp downside correction. This resulted in an overall 3.7% rise from the close of April. CME copper prices then continued to retrace […]
Raw Steels MMI: Steel Prices Decrease, Surge of Vietnamese Steel Imports Fuel Dumping Concerns
The Raw Steels Monthly Metals Index (MMI) remained sideways, with a modest 1.33% decline from May to June. As a whole, U.S. flat rolled steel prices appeared bearish, accelerating declines throughout June. HRC prices fell nearly 9%, their most significant month-over-month drop since February. CRC and HDG prices saw respective 6% declines, while plate prices […]
Outokumpu Expects Sideways Stainless Market, Promotes the Necessity for Protectionism
Speaking at the Chicago chapter of the Association of Women in the Metals Industry’s (AWMI) most recent dinner, Outokumpu Business Area Americas CEO and President Tamara Weinert highlighted the many challenges facing domestic stainless producers. She also commented on the global stainless steel price, the company’s overall outlook, and its path toward a greener future. […]
Copper MMI: Risks to the Copper Price Uptrend
Overall, the Copper Monthly Metals Index (MMI) rose 17.36% from April to May. The copper price uptrend accelerated throughout April. Bullish momentum saw prices surge nearly 14% from the close of March. By April 29, prices pushed past the $10,000 per metric ton mark. They continued to move even higher by mid-May, with an additional […]
Aluminum MMI: Aluminum Prices Retreat after Failing to Break 2023 High
Overall, the Aluminum Monthly Metals Index (MMI) rose 7.06% from April to May. The aluminum price remained bullish throughout April, rising 11.47% month over month. However, prices found a peak on April 22 when they failed to break above their 2023 high. They then retraced to the downside during the remainder of the month and […]
Stainless MMI: Mills Post Q1 Results as Nickel Prices Stabilize
Nickel prices followed other base metals up throughout April, with a nearly 15% month-over-month rise. By late April, prices hit their highest level since September, although they subsequently began to retrace as upside momentum cooled. Overall, the Stainless Monthly Metals Index (MMI) rebounded, with a 9.58% jump from April to May. Outokumpu, Acerinox Post Q1 […]
