Sources said that steel manufacturing entities in northern Europe are unlikely to seek price increases on hot rolled coil until July, despite events since May that could create conditions to raise them. “If you do that, you seem very opportunistic,” one source told MetalMiner. Mills were seeking €630-650 ($675-695) per metric ton EXW in late […]
Category: Commodities
Anglo American Rejects £39 Billion Offer from BHP, Citing Regulatory Risks
Australian mining multinational BHP recently abandoned its bid for London- and Johannesburg listed Anglo American after the target company rejected the latest offer. “While we believed that our proposal for Anglo American was a compelling opportunity to effectively grow the pie of value for both sets of shareholders, we were unable to reach agreement with […]
Global Precious Metals MMI: Long-Term Precious Metal Price Direction Remains Uncertain
The Global Precious Metals MMI (Monthly Metals Index) showed slight upward price action month-over-month, rising by 2.57%. Despite this, the overall trend of the index held sideways. In terms of specific precious metal prices, platinum and silver experienced upward price action through May before retreating back into range at the beginning of June. This served […]
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 […]
Renewables/GOES MMI: Despite Slight GOES Supply Gut, U.S. Still Lacks Enough Transformers for Renewable Energy
The Renewables MMI (Monthly Metals Index) witnessed more notable declines month-over-month than last month’s MMI, declining by 7.09%. Renewable energy news sources indicate there exists a number of renewable energy projects within the U.S. currently ready to begin work, but are on hold due to an array of factors. Furthermore, solar and wind fields still […]
Secret Weapon in the ‘Copper War’?
Copper demand continues to surge globally. And as the rest of the world struggles with the rising price of copper and the ever-changing copper market, guess who is sitting pretty? Hint: it’s China. Despite fears of a worldwide copper shortage driving copper prices to new highs, the world’s largest producer and consumer of refined copper […]
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 […]
Preparing for Annual Contract Negotiations: A Guide for Metal Sourcing Companies
Metal sourcing firms must have a thorough awareness of market trends and metal prices to prepare for the approaching yearly contract negotiations in the fall. This involves identifying any swings in metals prices through in-depth investigation and analysis while also comprehending the variables behind these swings. Each week, MetalMiner’s newsletter covers these exact patterns. Sourcing […]
