The global rare earth magnets game continues to heat up. Indeed, China, the top global rare earths supplier, seems eager to tighten its hold on the marketplace, especially with trade tensions rising between the country and the West. Meanwhile, the U.S., Australia, and many other nations continue to look for homegrown solutions to rare earths […]
Category: Commodities
November Rally: Multiple Precious Metal Prices Soared, But Silver Stole the Show
This month, both stock indices and precious metal prices saw consistent gains week over week as conflict continues to unfold in the Middle East and Europe. With prices for Yields falling a little over 3%, reaching their lowest levels in two months, price action for stock indices recently drove markets above 7% in response to […]
Steel Production and Export Pressure Push India’s Steel Trade into a Deficit
India officially reported a trade deficit in steel shipments in the April-October 2023 period. Analysts cited a continue drop in export demand and shifting steel production levels as the primary reasons why they total value of imports was more than that of exports. Furthermore, the continued slow demand from major markets like Europe continues to […]
ArcelorMittal Halts Steel Production in Bosnia Amidst Europe’s Slump in Demand
A drop in steel demand throughout Europe proved the reason for ArcelorMittal temporarily suspending output at its Bosnia plant. The company remains a leading player in the steel industry, making approximately 700,000 tons of liquid steel every year and employing 2,200 workers. According to this report, company management moved to halt production due to a […]
Glencore’s $6.93 Billion Acquisition: Majority Stake in Teck Resources’ Steelmaking Coal Business
Multinational commodity trader and mining group Glencore recently announced the acquisition of a majority stake in Canadian mining group Teck Resources’ steelmaking coal business. On November 15, the London and Johannesburg-listed group announced they had previously paid $6.93 billion for a 77% stake in Elk Valley Resources (EVR). They added that the deal was based […]
Global Precious Metals MMI: Precious Metals Prices Remain Mostly Sideways Amid Conflicting Factors
The Global Precious Metals MMI (Monthly Metals Index) maintained a sideways trend once again, this time moving up only 2.07%. That said, the overall future for precious metals prices brightened recently. For example, through October, gold increased around $150 per ounce. However, there were several variations in the prices of precious metals between October 1 […]
Copper MMI: Is The “Supercycle” Narrative For Copper Prices Falling Apart?
Although they appear on the rebound from last month’s lows, copper prices have yet to break out of their long-term sideways range. Nonetheless, following an almost 2% overall decline throughout October, prices have now retraced to their highest levels since September. For the second consecutive month, all prices within the index edged lower. That said, […]
Renewables/GOES MMI: Index Turns Down and Possible EV Trade War?
The Renewables MMI (Monthly Metals Index) remains volatile, especially when it comes to EV battery technology. Starting in August, the index experienced sharp up-and-down movements from month to month. Indeed, between October 1 and November 1, the index dropped 4.22%. Most index components, including grain-oriented electrical steel, dropped, with only a few managing to move […]
British Steel Has £1.25 Billion Plan to Slash Emissions with Electric Arc Furnaces
British Steel recently told steel news sources of a £1.25 billion ($1.53 billion) project to replace its blast furnace operations with electric arc furnaces. The company said the goal was to help slash current carbon emissions. “The proposals, which are subject to appropriate support from the UK Government, could see British Steel install two electric […]
Aluminum MMI: Aluminum Prices Sideways as Premiums Remain Bearish
Although they fell 4.29% throughout October, aluminum prices remain trapped within a sideways trend established back in July. Prices retraced from their late-September spike but failed to create a lower low. Therefore, they continue to move within a tight range. Overall, the Aluminum Monthly Metals Index (MMI) remained sideways, with a modest 0.72% decline from […]