Much has been said about the trials and tribulations of the aluminum market, particularly of the impact on smelter output from energy rationing in China last year and then rapidly escalating energy prices in Europe this winter. Russia’s invasion of Ukraine turbocharged prices. Fears rose over already constrained oil and natural gas supplies to Europe […]
Stuart Burns
LME nickel hits the buffers again
You must wonder what would have happened if the LME had left the nickel market alone — after nickel prices embarked on a meteoric rise March 7 — and allowed the short covering price spike to work out. Yes, the shorts would have been badly burned. That would have included not just Tsingshan Holding Group […]
Aluminum prices back on the rise as Australia bans alumina exports to Russia
After spiking dramatically following Russia’s invasion of Ukraine, aluminum prices eased back from highs of over $3,500 per metric ton on the LME to around $3,300. The market played a game of wait-and-see over a potential negotiated outcome to the conflict and to better judge just how bad the squeeze on aluminum supply would be. […]
The LME nickel price debacle continues
Well, if you thought the London Metal Exchange’s unprecedented suspension of trading last week took the steam out of the nickel market and nickel prices, and that the world would revert to orderly conduct Wednesday when the LME resumed trading, you would have been wrong. Nickel price chaos The LME had set trading limits of […]
Automotive supply chain disruptions ripple out across Europe from Russia-Ukraine war
We naturally focus on metals and energy issues when reviewing the Russian invasion of Ukraine. However, metals and energy are not the only commodities or products Russia and Ukraine export to the world. While neither country dominates any sector, both Russia and Ukraine play a significant enough role in certain sectors for supply chain disruption […]
Will we see $200 a barrel prices for oil?
Metals prices are all over the place, with rapid rises to record levels followed by sharp falls and considerable anxiety — anxiety that has also applied to surging oil prices. Agricultural commodities have likewise seen an unprecedented surge in prices since the war in Ukraine broke out. There is risk of unrest in parts of […]
Russian exports hit even where sanctions are not directly applied, from energy to metal prices
What is true for oil and natural gas in the Russia-Ukraine conflict is increasingly becoming true of all commodities. Spot market oil, gas flows slow A post this week in the Economist outlines how Russia’s oil and gas exports are grinding to a halt, at least as far as the spot market is concerned. Longer-term […]
Current impact of the Russian invasion of Ukraine on the European metals market, metal prices
To say the situation in Ukraine — and its impact on metal prices _— is constantly evolving situation would be an understatement. No sooner is the position defined when new developments put previous assessments out of date. Nonetheless, we will do our best to address many of the developments as they are evolving this week. […]
Russia sends in the troops, impacting metals markets
So, after weeks of will he, won’t he, Russian President Vladimir Putin finally ordered troops into two regions of eastern Ukraine. After recognizing Luhansk and Donetsk as independent states earlier this week, Putin made an emotional and rambling televised address to the Russian people. Where this will lead no one knows. But it seems unlikely […]
Metal inventory levels dwindle and that could hit metal prices
While inventory levels serve as an interesting measure for fundamental analysis, that measure remains irrelevant for the short term. But when inventory levels change dramatically and over a longer time frame, they can have both an impact on price and also reflect more profound changes within the market. Ultimately, if not immediately, those factors could […]
