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 […]
Category: Aluminum
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 […]
Conditions Ripe for a Nickel Price Squeeze
The recent rise in aluminum, copper, and nickel price have created some short-term uncertainty as companies finalize their long-term contracts for 2023. Earlier this month, all three metals rose on the back of rumors that China might begin easing zero-COVID restrictions. In addition, the USD index has dropped from its September peak of 114. As […]
Zhongwang’s Roller Coaster Ride Comes Off the Tracks
Recent aluminum supply news remains inundated with the Zhongwang Holdings controversy. Many remember the case from 2019 when US prosecutors accused six southern California companies of evading aluminum import duties. The organizations had ties to Zhongwang Holding’s owner Liu Zhongtian and the skipped duties came to $1.8 billion total. The prosecutors claimed that between 2011 […]
Advantages of Using Aluminum for CNC Machined Parts
Aluminum, a widely used material option for CNC machines, contains many practical characteristics and properties. Its strength makes it perfect for use in mechanical parts. The oxidized layer on its surface protects them from the environment. For these reasons, aluminum components can prove useful in a broad spectrum of industrial products. This includes automobiles, aircraft, […]
Aluminum MMI: Aluminum Prices, Physical Delivery Premiums Decline
After substantial declines throughout September, this month’s aluminum prices appear strong compared to other metals. Aluminum prices hit a bottom in late September, but rebounded during the first week of October. Should prices continue to break out of range upward, it would indicate a halt of the downtrend amid building bullish sentiment. Despite the recent […]
Latest Updates on LME Aluminum: Potential Russian Prohibition
Last week, speculators bought up aluminum amid a $100/ton spike following news that LME aluminum may soon exclude Russian materials. The LME continues to review a ban that would keep Russian aluminum, nickel, and copper from the exchange. A Reuters post illustrated the seriousness of the move, stating that Russia’s Nornickel accounted for 7% of global […]
Aluminum Market After Another Fed Rate Hike
Aluminum supply continues to shrink thanks to smelter shutdowns caused by ongoing energy shortages. Aluminum prices enjoyed a brief rebound following the Fed’s latest rate hike of three-quarters of a point. However, in the short term, aluminum prices remain in a downward trend. Earlier this week, MetalMiner noted how smelter shutdowns in China and Europe […]
