Nickel prices remained decidedly bearish throughout October, experiencing the largest monthly decline amongst base metals. Indeed, prices fell over 7% to their lowest level since October 2021. Overall, the Stainless Monthly Metals Index (MMI) continued to decline, dropping 5.74% from September to October. Crush the competition by getting access to weekly exclusive nickel market intel. Opt into MetalMiner’s free […]
Category: Commodities
Construction MMI: Steel Prices Drop & Construction Impact on Steel Demand
Month-over-month, the Construction MMI (Monthly Metals Index) narrowly missed trading completely flat, ultimately moving sideways with just a 0.2% increase. Meanwhile, steel prices, specifically h-beam steel and steel rebar costs, either dropped or traded sideways, as did bar fuel surcharges. Energy have risen at an astounding rate since 2021 due to high inflation and geopolitical […]
Raw Steels MMI: Will Cliffs’ Price Hike Shift Steel Prices?
The Raw Steels Monthly Metals Index (MMI) rose 3.45% from August to September. Flat rolled steel prices remained bearish throughout September. Meanwhile, hot rolled coil prices continued to show the largest decline, falling to their lowest levels since December 2022. By the end of September, prices sat only 4% above their last major low. Meanwhile, […]
Groundwater Pumping at South Crofty Cornish Mining to Begin in October
For years, the tin price index in Europe depended largely on foreign supply. However, Vancouver-headquartered Cornish Mining plans to start pumping out groundwater from its South Crofty tin project as early as October. The firm is currently preparing its mine water treatment plant, which can treat up to 25,000 cubic meters of water per day […]
Rare Earths MMI: Burmese Mining Suspension Causes Prices for Rare Earth to Shoot Up
The Rare Earths MMI (Monthly Metals Index) witnessed yet another steep increase month-over-month. Indeed, supply disruptions remain a massive concern in the rare earths industry, so rare earth magnets and other materials witnessed renewed bullish strength across the board over recent months. In August, market worries arose prior to a planned environmental inspection of China’s […]
Copper Price Roller Coaster a Wild Ride in 2023: From Highs to Lows and Back Again
It’s safe to say that the copper price index witnessed an interesting 2023 thus far. Indeed, the market’s been volatile, so there were more than the usual ups and downs. Mid-year, prices registered a major tumble because of the fumble in China’s economy. However, soon after, they began clawing back to a respectable level. Prices […]
Precious Metal Prices Losing Steam After Fed Announces Intent to Keep Interest Rates Elevated
In recent weeks, leading up to the end of the month, indices like the S&P500 and metals like silver and gold began to run out of steam. The impetus for the decline in stock and precious metal prices was recent Fed comments regarding higher interest rates in the foreseeable future. Meanwhile, other indexes such as […]
U.S. Lithium Startups Turn to Uncle Sam as Corporate Funding Dwindles
For years, lithium startups have enjoyed easy funding. But as the global lithium price plummets, that all seems poised to change. Indeed, the aforementioned funds mainly stemmed from battery users hoping to secure a reliable source of lithium and venture capitalists looking to score big while helping close the gap on domestically produced lithium products. […]
What We Know About 2024 Metal Prices Through Metal Mining
As we approach 2023, the metal mining industry teeters on a precipice of unprecedented change and challenge. Such challenges range from economic instability, environmental regulations, and labor shortages to disruptive technological advancements and heightened market competition. These dynamic factors pose incredible business risks that require strategic management for success in the coming years. While it […]
Precious Metals MMI: Precious Metal Prices Like Gold and Silver Could Reverse
Month-over-month, the Precious Metals MMI (Monthly Metals Index) witnessed almost no movement and narrowly missed trading flat. Indeed, the index remained sideways, only dropping by a slight 0.11%. That said, the Fed’s stance on holding interest rates at an elevated level could impact precious metal prices in the near future. Interestingly enough, scrap precious metal […]