Maybe the port strike was inevitable. The unions are likely hedging their bets that a softer Democrat administration will fight in their corner now in the event a less cooperative Republican administration replaces them. They could be going for it while they feel they will get a better hearing from the top. So far, that […]
Category: Automotive
Automotive MMI: How is China’s Excessive Steel Dumping Impacting the Automotive Industry?
The Automotive MMI (Monthly Metals Index) moved sideways month-on-month, only rising by 0.78%. Hot dipped galvanized steel prices remained sideways, which helped to hold the index firmly in range. However, China’s recent dumping of excess steel supply into international markets could cause downward price movement and bearish sentiment for the remainder of 2024. China’s Hot-Dipped […]
Global Precious Metals MMI: Gold Prices Continue to Fly High, but for How Long?
The Global Precious Metals MMI (Monthly Metals Index) narrowly missed trading flat, only budging down a mere 0.01%. Precious metals prices experienced an array of volatility in both directions, which held the overall index firmly in a sideways trend. Gold prices continue to rise while other precious metals like palladium and silver dropped (price trends […]
Liberty Steel Flats Producer in Dunaújváros Planning on Targeting Automotive and Defense Sector
According to Liberty’s Steel’s parent company, GFG Alliance, the steel industry leader’s flats producer at Dunaújváros plans to target the automotive and defense sectors. This shift will occur upon the commissioning of two electric arc furnaces, which will replace the two blast furnaces currently occupying the Hungarian site. A source at the company told MetalMiner […]
Automotive MMI: EV Demand Failing to Boost Overall Metal Demand
The Automotive MMI (Monthly Metals Index) maintained a steady sideways trend month-over-month, only moving down 2.53%. Overall steel demand remains tepid, which left little bullish sentiment for hot-dipped galvanized steel. Meanwhile, other metals prices, including copper, dropped after their speculative rallies cooled off in July. Overall, the components of the automotive index had little to […]
Automotive MMI: Automakers Hit the Brakes on Electric Vehicle Investments
Month over month, the Automotive MMI (Monthly Metals Index) failed to break very far outside of its year-long sideways trend. All in all, the index dropped by 4.23% Numerous factors tugged the index down month-over-month, including slowing electric vehicle production. Another pressing matter putting pressure on the automotive market is China implementing further restrictions on […]
Norsk Hydro Comments on Current Aluminum Market Conditions
Recently, MetalMiner had the pleasure of speaking with Norsk Hydro about aluminum market trends, market insights and the general market outlook for the aluminum industry, especially in the U.S. As the premier green aluminum producer in the United States, Europe-based Norsk Hydro continues to make significant strides in helping to convert the aluminum extrusion market […]
Automotive MMI: Will EV Demand Hold Copper Prices Up Long-Term?
The Automotive MMI (Monthly Metals Index) continued to rise month-over-month, this time increasing by 3.04%. Aluminum and platinum prices rose significantly, which pulled the index up and provided significant bullish price action. Meanwhile, copper prices also added some bullish sentiment to the index, though not quite as much as in May. Copper prices continue to […]
Automotive MMI: How Will the Port of Baltimore Shutdown Impact Automotive Imports?
Month-over-month, the Automotive MMI (Monthly Metals Index) exhibited little movement. The index trended sideways, only moving up a slight 0.28%. However, recent events continue to raise questions about the future of the industry, especially where automotive imports are concerned. Despite the index itself not witnessing much movement, individual components of the index saw much more […]
Construction MMI: Potential Manufacturing Boom Could Impact Steel Prices
Month-over-month, the index experienced little movement. Overall, the Construction MMI (Monthly Metals Index) moved sideways, inching down just 1.2%. Steel prices moving downward placed some bearish pressure on the index. However, several significant factors continue to press on construction from both a bearish and bullish standpoint, including the Fed holding off on adjusting interest rates, […]
