Nickel price data continued to decline during the month, dropping a total of 4.06%. While prices remain above their pre-squeeze historical average, they recently fell to their lowest level since October 2021 as they continue to slip below short-term support. All components declined during the month, which saw the Stainless Monthly Metals Index (MMI) fall 4.56% […]
Category: Commodities
Construction MMI: Index Remains Sideways, U.S. Construction Industry Jobs Up
The Construction MMI (Monthly Metals Index) continued to lack strong bullish or bearish pressure month-over-month. Overall, the index only dropped by a minuscule 0.13%. Still, many factors remain at play in the construction industry, which seems to be behind the index components’ steady sideways trends. With the winter months coming, infrastructure construction will likely slow […]
Asset Freeze Issued by ArcelorMitta on Liberty Steel for €140 Million Debt
ArcelorMittal recently obtained a freeze order from a Singaporean court against Liberty Steel. The order totals €140 million ($150 million) and relates to the prospective sale of Liberty Steel assets. According to reports, the Luxembourg-headquartered group acquired a court injunction from a Singapore court on Nov. 1. That injunction prohibits Liberty from removing any assets […]
India and China Plan to Discuss Carbon Tax with the EU
Both India and China continue to denigrate the Carbon Border Adjustment Mechanism (CBAM), or “carbon tax” as it has come to be known, proposed by the European Union. Meanwhile, the EU claims the new scheme is integral to its plan to achieve zero emissions across six earmarked industries. The new tax regime recently moved into […]
Raw Steels MMI: How Long Can Steel Prices Rise?
The Raw Steels Monthly Metals Index (MMI) rose 2.53% from September to October. Roughly six weeks ago, U.S. steel prices found a bottom at the close of September. However, in October, the market shifted, leading to a nearly 17% rise in HRC prices as they retraced back to their August range. Both CRC and HRC […]
Automotive MMI: UAW Strike Finally Over
The Automotive MMI (Monthly Metals Index) moved sideways month-over-month, rising in price by just 2.31%. Save for hot-dipped galvanized steel, most parts of the index also traded sideways, mainly due to a lack of strong bullish or bearish pressure. Hot-dipped galvanized proved the only outlier due to steel corporations hiking prices. However, the main headline […]
Rare Earths MMI: Rare Earth Prices Cool Down
The Rare Earths MMI (Monthly Metals Index) recently began to cool down following two months of bullish momentum. Altogether, the index dropped by about 3.39%. Many components of the index traded sideways, while some others, like praseodymium neodymium oxide, declined. That said, the index still holds the potential to move back up in the remainder […]
Gold Prices Hover Near Psychological Range of U.S. $2,000
For decades, gold has remained the best-performing asset class, providing double-digit returns for investors. True to form, gold demand this quarter remains above the long-term average as precious metal prices continue to move in response to global events. According to the World Gold Council (WGC), gold buying by central banks also continues at a scorching […]
Precious Metal Prices: Gold, Silver Remain Safe Haven Assets Amid Global Uncertainty
This week, precious metals once again served as safe-haven assets for investors and market participants. That said, some precious metal prices, including platinum, continued to slide due to bearish pressure followed by falling demand. While the world continues to monitor the conflict in the Middle East, metals such as gold and silver have seen an […]
Cobalt Crash: The Cobalt Price Index Hits Record Low Amid “Perfect Storm”
Analysts once hailed cobalt as a commodity whose price would rise forever. Used in the cathodes of many lithium-ion batteries to extend the life of the battery cell, investors and mine operators eagerly anticipated high returns on all cobalt investments. However, cobalt prices recently dropped to record lows amid global oversupply and a widespread slowdown […]