Many speculate that China’s slowdown will not only undermine metal prices but also put China at risk of experiencing a Japan-style decade of deflation. A recent Financial Times article suggests that China has tried various measures to stimulate economic growth. Examples include cutting lending rates, mortgage rates, business taxes, stock-trading fees, and admission costs at […]
Category: Commodities
Global Precious Metals MMI: Precious Metal Prices Drop Below Support Zones
The Global Precious Metals MMI did not deviate far from its ongoing sideways trend. Indeed, since April, the index has continued to stay within a tight trading range without much movement up or down. Moreover, precious metal prices, including those for gold and silver, remain relatively high when looking at their respective price ranges over […]
Shake Up for Aluminum Prices? China’s Surge into Indonesia Sparks Market Shifts
It’s called the “nickel model,” and China hopes to duplicate it for its aluminum industry. Indeed, after more than 20 years of fast growth, China’s aluminum sector recently reached its domestic capacity limit. The government imposed this ceiling on new smelter construction to cut down on pollution and energy consumption. Now, the policy spur significant […]
U.S. Slaps 122.5% Tariff on Chinese Tin Plate Steel, Sparks Accusations of Unfair Play
The U.S. Department of Commerce recently decided to enforce preliminary anti-dumping duties on imports of tin mill and tin plate steel from China at a duty rate of 122.5%. As this is the highest preliminary rate, the move provoked severe criticism from trade analysts and experts across China. This tariff also applies to China’s leading […]
Renewables/GOES MMI: Cobalt and Other Battery Metals Prices Rise Slightly
Since April, the Renewables MMI (Monthly Metals Index) has been in a tight sideways trend. Falling demand and slumping material production for battery metals in China, as well as an oversupply of materials continue to exert bearish pressure on the index. However, month-over-month, the index finally broke its sideways trend, rising by 4.75%. Chinese stimulus […]
U.S. and Mongolia Forge Pact to Extract Rare Earths
At a meeting several days ago, officials from the U.S. and Mongolia discussed devising innovative approaches to ensure the smooth entry of essential minerals from the landlocked Mongolian nation into the global market, namely for materials for rare earth magnets. Following his meeting with U.S. Vice President Kamala Harris in Washington, Mongolian Prime Minister L. Oyun-Erdene […]
China’s Imports of Refined Copper Hit Four-Year Low
In the first half of 2023, China’s intake of refined copper saw the biggest drop in four years. The news underscores the current deceleration of the nation’s manufacturing sphere. China is one of the world’s largest buyers of refined copper. Still, it seems the country’s appetite for imports is waning. According to a report by […]
Raw Steels MMI: HRC Steel Prices Resume Downtrend, Cliffs Looks to Acquire U.S. Steel
The Raw Steels Monthly Metals Index (MMI) moved sideways, with steel prices experiencing a modest 1.17% decline from July to August. Flat-rolled steel prices seemingly found a bottom at the end of June before experiencing a modest increase. By mid-July, prices returned bearish, edging downward during the remainder of the month. HRC prices ultimately traded […]
Glencore’s Bid for Teck Resources Sparks Environmental Concerns
Glencore continues to express interest in a tie-up with base metals producer Teck Resources. Recently, the multinational commodity trader and mining company proposed steps to address the Canadian firm’s concerns over carbon exposure as a result of any merger. The main source of contention for the deal is Teck’s coking coal operation. “Glencore is fully […]
Steel Industry Disruption: Cleveland-Cliffs’ Jaw-Dropping Bid to Acquire US Steel Makes Waves
Late Sunday night, the Wall Street Journal reported that U.S. Steel had rejected an unsolicited offer from Cleveland-Cliffs for the company, valuing it at $7 billion. According to the report, Cliffs offered $17.50/share in cash plus 1,023 shares of Cliffs stock. U.S. Steel promptly rejected the offer and indicated that it would seek alternative proposals. […]