India may be the world’s second-largest steel producer, yet it continues to grapple with reliance on steel imports. In the last few months, China has emerged as a major steel exporter to India, leading to protests from India’s domestic sector. Indeed, India’s June 2023 steel imports rose by 5.9% month-on-month and 7.6% year-on-year. Alongside China, the country also […]
Category: Commodities
Rare Earths MMI: Will Chinese Stimulus Help Support Rare Earth Magnets?
Month-over-month, the Rare Earths MMI (Monthly Metals Index) broke its short-term sideways trend and once again spiked down. Overall, the index witnessed a 10.03% decrease as reduced short-term demand continues to cause more and more supply to build up. This leaves rare earth prices struggling to find support. However, the prospect of China offering a […]
Ukraine’s Ferrexpo Sees Production Boost, Potentially Impacting Iron Ore Prices
Ukrainian iron ore producer Ferrexpo recently reported a 59% increase in its commercial production for H1. This figure, derived by comparing current numbers to the previous six months, has the potential to significantly impact global iron ore prices. Indeed, the total production of pellets and commercial concentrate for the first six months of 2023 came […]
Preparing for 2024 Metal Contract Negotiation Time
Buyers typically renew their annual metal sourcing contracts every year. Doing so helps ensure continuity and stability for ongoing business relationships. One might think, “Sure, sure. I know that. But how should I prepare properly?” After all, the contract negotiation process often proves stressful for even the most savvy metal sourcing professionals. To make matters […]
Collusion or Cooperation? Container Shipping Lines’ Secret Strategy to Sustain Rates Amid Capacity Surge
In recent years, market analysts, considerably widened the parameters they track to assess growth in countries, regions, and globally as far as container shipping goes. In this case, “analysts” includes more than just economists as there is currently a wider community conducting such evaluations. Unlike the past, these individuals now track all kinds of […]
Another Semiconductor Shortage? What to Expect from China’s Restriction on Gallium and Germanium Exports
China’s announced restriction on the export of gallium and germanium goes into effect in August. Both of these elements are vital to the microchip industry. Many worry that the move will lead to another major semiconductor shortage. As per the new rule, export of these strategic metals now requires Beijing’s permission. Exporters violating the rule […]
Renewables/ GOES MMI: Cobalt Rallies, Renewable Energy Storage Facilities Expanding
The Renewables MMI (Monthly Metals Index) saw little movement month-over-month. The index held sideways and only dropped a mere 0.12%, just narrowly missing trading flat. Moreover, the main factor which pushed the index sideways instead of down (according to renewable energy news) was cobalt rallying. It’s the first significant price rise cobalt has seen since […]
Power Cuts, Low Rainfall Impact Chinese Aluminum Supply, Drive Import Surge
China has significantly increased its reliance on aluminum imports this year due to lower domestic aluminum supply. According to reports, the move is part of a strategic measure to partially offset the below-average output in domestic production. Indeed, new customs data reveals that China saw a notable 10.7% increase in aluminum imports during the first […]
Ukraine’s Metinvest to Build Steel Plant in Italy
Ukraine’s Metinvest plans to build a new steel manufacturing facility in Italy. Indeed, an official for the group recently confirmed reports of plans to build a plant in either that country or Bulgaria. “Many people talked about the fact that we are considering the possibility of building a new plant in Italy. Indeed, this is the […]
Global Precious Metals MMI: Precious Metal Prices Moving Up, but for How Long?
Precious metal prices (especially silver) began a brief rally on July 12 before retreating again. Whether or not the bulls are here to stay is a question up for debate. Many remain optimistic that gold prices will continue upward until the end of 2023. However, gold and other precious metals markets still face some bearish […]