The Rare Earths MMI (Monthly Metals Index) saw a massive rebound after four months of sharp declines. All in all, the index rose by a whopping 14.36%. This enormous increase could indicate that prices for rare earth metals finally found a bottom between March and April. Chinese Rare Earth Metals Profits Still Declining China’s mining […]
Category: Commodities
Anglo American Rejects $38.8 Billion BHP Takeover Offer
Metals markets recently saw UK metal and mining multinational Anglo American reject a £31.1 billion ($38.8 billion) takeover bid from Australia’s BHP. Meanwhile, shareholders in the latter company continue to urge an increase in the offer price. On April 26, London- and Johannesburg-listed Anglo American’s board of directors unanimously rejected BHP’s unsolicited, all-share offer made […]
Copper Hits Record $10,000 Milestone: Experts Warn of Impending Supply Crisis
It took about 24 months for the price of copper to reach the psychological mark of U.S. $10,000 per metric ton. Three-month copper futures on the London Metal Exchange (LME) touched the $10k mark last week. The last time copper crossed this threshold was in March 2022, when it reached $10,845 per ton in the […]
S&P 500 Hits Record Highs, But Can It Weather the Storm?
Although the beginning of the year offered mixed signals for the global economy, US markets today continue to experience positivity. Prices for general markets witnessed an uptrend in late February, followed by a continuation in March and a reversal in April. Fueled by buyer sentiment, the S&P 500 index notched its best first quarterly performance […]
British Steel’s Ambitious Decarbonization Plan Gets the Green Light
In an April 2 announcement, steel industry leader British Steel stated that the Redcar and Cleveland Borough Council recently approved new equipment following a detailed consultation on its decarbonization project. British Steel originally announced its plans to replace the furnaces at Scunthorpe and Teesside in September under plans that would see the steelmaker cut its […]
LME and CME Russian Metal Ban Prompting Speculation About Market Fragmentation
By now, anyone in the metals market will know that the U.S. and UK recently banned the consumption of Russian aluminum, copper, and nickel produced from April 13 onward. While metal already on the London Metal Exchange (LME) and the Chicago Mercantile Exchange (CME) are still available for consumption, no metal delivered after this date […]
A Blow to China’s Steel Dumping Tactics: Triple Tariffs
New China tariffs may soon change the country’s steel market tactics. China continues to sit on a stockpile of steel, and it has no idea what to do with most of it. The exception, however, seems to be dumping it into foreign markets for cheap under the guise of “exportation.” China remains unable to use […]
ThyssenKrupp Responds to Market Turbulence with Bold Production Cuts
Germany flats producer ThyssenKrupp Steel (TKS) recently announced plans to cut its production capacity by an average of 19.5%, citing current market conditions as the main reason. Indeed, the European steel industry continues to face a wide range of challenges, including economic challenges and surging energy costs. “The aim is to make ThyssenKrupp Steel fit […]
Global Precious Metals MMI: Gold Prices Surge, But is It a Gold Rush, or Gold Bust?
Month-on-month, the Global Precious Metals MMI (Monthly Metals Index) rose by 8.25%. However, shortly after April 1, precious metal prices, particularly gold and silver, began surging as investors flocked to purchase as many gold bullions as possible. The reasons for this newfound “gold rush” include inflation hedging, anticipation of interest rate cuts, and geopolitical uncertainty. […]
Will the Taiwan Earthquake Impact Semiconductor Production?
Reports indicate that the earthquake that struck Taiwan on April 2 is unlikely to create either supply or manufacturing difficulties for Taiwan semiconductors (microchips), which could subsequently impact the auto sector and steel prices. “I haven’t heard about any impact on the industry due to the earthquake,” one steel trader told MetalMiner. The seismic incident registered 7.2 on […]