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 […]
Category: Aluminum
High Energy Costs: Can Hydro Power Help Alleviate Lower Smelter Output?
Recently, I had the pleasure of interviewing Trond Gjellesvik and Charlie Straface of Hydro. Hydro is a Norwegian company specializing in green energy and low-carbon aluminum products. It is based out of Oslo, but harbors multiple business locations around the globe. I was curious to learn how the company’s efforts correlated with the current price […]
Aluminum Shortage Coming? U.S. Considers 200% Tariff on Russian Aluminum
A potential aluminum shortage could be rearing its ugly head once again. This will prove especially true if the U.S. goes ahead with a proposed move to shut out all Russian aluminum unilaterally. Currently, the plan is to accomplish this via a tariff of up to 200%. Thus far, Russian metal producers have largely evaded […]
Aluminum MMI: Aluminum Prices Pause Following Surge
Aluminum prices have stayed bearish in the short term. At the beginning of February, price action showed a short-term sideways trend, as no new lows or highs formed. This means prices need to break out of their current range to form a continuation trend or a downward reversal. Currently, however, future price direction remains unclear. […]
Renewables/GOES MMI: Wind Turbine Production Threatened by Steel Price Hikes
The Renewables MMI (Monthly MetalMiner Index) began showing signs of a possible reversal month-over-month, edging up 3.42%. Renewable resources, meanwhile, continue to see significant global investment. MetalMiner noted in its Raw Steels MMI that steel prices found a bottom month-over-month. This impacted the renewable resources index heavily. After all, much of the index consists of […]
Aluminum MMI: Aluminum Prices Slide From Early-December Peak
Despite the recent short-term bounce, aluminum prices have not quite reversed to the upside following their long decline from March 2022. Ultimately, the rally between November and December was not strong enough to indicate a reversal. Moreover, bearish pressure continues to dominate the market environment at this time. Instead, prices remain largely indecisive. However, the […]
Construction MMI: Chinese Sourced Steel Prices Spike, Supply Pinches Possible
The Construction MMI (Monthly MetalMiner Index) rose considerably by 7.68%, with Chinese steel prices getting a significant boost. In fact, all facets of the index related to China (except for iron ore) increased. The movement came in the wake of zero-COVID restrictions lifting, which resulted in a sharp rise in coronavirus cases. While this was […]
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 […]
European Tariffs Planned for Carbon-Intensive Steel and Aluminum
Global metal manufacturing is already set to change in 2023. Indeed, the European Council and European Parliament recently reached a provisional agreement over the Carbon Border Adjustment Mechanism (CBAM). This would impose new tariffs on materials from carbon-intensive industries imported into the 27-member bloc. According to members of the Committee on the Environment, Public Health, […]
Aluminum MMI: Rally Continues as Aluminum Prices Remain Bullish
Aluminum prices broke out of their sideways trend last month with strong upside price action. Prices rallied during the first half of November, followed by a modest retracement before they continued upward. Overall, the Aluminum Monthly Metals Index (MMI) saw a modest 1.04% increase from November to December. The MetalMiner Insights platform includes global aluminum […]
