This past weekend, China’s primary steel manufacturing companies released a cautionary statement regarding their profits. In the statement, the manufacturers acknowledged a series of obstacles they expect to encounter in the latter half of the year. They also attribute disappointing demand, dwindling profitability, and cost reduction pressures as the primary factors exacerbating these challenges. The China […]
Category: Commodities
Metal Prices: Hot-Rolled Coil Trends Down, Nickel Appears Bearish
Metal prices demonstrated increasingly-bearish short-term movement over the past couple of weeks. HRC, for instance, continues to trend downward while nickel faces extensive bearish pressure. But while prices may continue to decline in the short-term, will the long-term trend continue? Nickel in a Bearish Market Nickel prices fell more than 20% in the first three […]
Are Copper Futures REALLY as Bullish as Some Say?
We’ve all heard the story. “The green energy movement will keep copper up!.” But, realistically, how bullish is the long-term outlook for copper? Here at MetalMiner, we’ve pondered this question quite a bit. Ultimately, we’ve come to the conclusion that the copper futures indeed possess a lot of long-term potential. However, is it possible that […]
Is India the U.S.’s New China?
In a recent interview, Gideon Rachman, Chief Foreign Affairs Commentator at the Financial Times, explored the growing relationship between the U.S. and India. The article primarily targets a British audience, but still playfully mock the Brits’ obsession with the “special relationship” between the UK and US. Most people acknowledge that this relationship originated during the […]
Most Indian Steel & Aluminum Imports to Be Excluded From U.S. Tariffs
Indian Prime Minister Narendra Modi recently visited the United States. During his stay, the two nations agreed to resolve six long-standing disputes at the World Trade Organization (WTO). U.S. steel news outlets watched this exchange particularly closely. This is because one of the subjects of debate was India’s imposition of retaliatory tariffs on U.S. products, […]
Do High Russian Aluminum Volumes Call the LME’s Integrity into Question?
(Editor’s Note: This article has been edited and updated since it’s earlier publication to reflect the LME position on Russian origin materials) It’s no news that the London Metal Exchange (LME) has seen a big rise in Russian aluminum inventories in its warehouses. However, the surge in Russian metal remains a source of concern. After […]
EU Cross-Border Adjustment Mechanism Deals Blow to India’s Aluminum Industry
The EU’s implementation of the Cross-Border Adjustment Mechanism (CBAM) poses a significant challenge to India’s aluminum industry and the global price of aluminum. The move stems from the EU’s eagerness to tackle carbon and achieve net-zero emissions by 2050. However, as one of the leading low-cost aluminum producers, India faces a considerable setback due to […]
Global Precious Metal MMI: Precious Metal Prices Losing Momentum
The Global Precious Metals MMI (Monthly Metals Index) traded sideways month-on-month. Overall, the index fell 2.75% as numerous components lost upward price momentum. All parts of the index moved sideways or fell slightly, except for Indian silver ingots and U.S. gold bullions. Though Fed’s hawkishness has managed to impact precious metal prices in the U.S, […]
Copper MMI: Will the Copper Price Rally Last?
The Copper Monthly Metals Index (MMI) fell 4.29% from May to June as the average copper price continued to show short term volatility. Copper prices ultimately rebounded after declining in May. After the start of the month, the copper price index started forming short-term patterns that showed potential upside reversal. However, price action would need […]
Is India the New China for Global Steel Production?
COVID-19, poor demand, and several other factors caused a drop in steel production worldwide the past few years. This included China, which is not only the biggest steel producer, but one with a massive impact on steel prices. Indeed, according to a report by the World Steel Association, global crude steel production, including semi-finished products, […]
