Russian forces continue to wage rocket attacks on Ukraine’s cities and energy networks. So far, the destruction has caused at least one steelmaker and one iron ore producer to lower their production levels. Integrated longs producer ArcelorMittal Kriviy Rih recently announced it would limit the electricity consumption of its most energy-intensive equipment. According to an […]
Category: Commodities
Global Precious Metals MMI – Are High Interest Rates Causing Precious Metal Investment Risks?
October’s Global Precious Metals MMI (Monthly MetalMiner Index) traded sideways, falling slightly by 0.98%. The index held higher than other October MMI’s (a majority of which fell in price) due to high interest rates, recession fears, and slowing economic activity. Due to these the current economic climate, investors sought out precious metals for investment reasons […]
Chinese Steel Manufacturing Profitability Down 20%
Is it all doom and gloom for Chinese steel manufacturing? It’s hard to tell at the moment. Indeed, China finds itself in a precarious place financially. What’s more, a sizable section of global financial and stock analysts have predicted the crises will only get worse as the country prepares to face its toughest winter yet. […]
Copper MMI: Copper Prices Move Sideways in Tight Range
The October Copper Monthly Metals Index (MMI) fell 5.59% from September to October, with all components experiencing declines. Still, future copper prices face a wide range of challenges. Copper prices continue to show signs of short-term consolidation following a brief rebound that stalled in late August. Meanwhile, the bottom found in mid-July and the peak of […]
Overview of Battery Recycling Industry, with Cirba Solutions
The last twelve months proved turbulent for the electrical products market. This is true whether you’re a raw material miner, refiner, manufacturer, or end user. Indeed, ongoing issues with battery metal prices and supply security affected millions. After demand rose dramatically, Chinese battery makers began snapping up resources left and right. This left major automakers […]
Glencore Slows Energy-Intensive Zinc Smelting
Glencore plans to place the zinc smelting line at its Nordenham plant in northern Germany on care and maintenance starting November 1. This represents yet another major blow to European metal manufacturing, which continues to see shutdowns amid the continent-wide energy crisis. In an October 5 memo, the London and Johannesburg-listed company’s supervisory board chairman, […]
ArcelorMittal Doubles Down on Indian Steel Manufacturing
ArcelorMittal appears quite bullish on India. In fact, the company recently announced its intention to double steel manufacturing at one of its primary plants. ArcelorMittal-Nippon Steel India Ltd. (AM/NS India) plans to spend US $5.1 billion at its Gujarat plant in western India. Betting on strong growth in domestic consumption, the company hopes to boost […]
Latest Updates on LME Aluminum: Potential Russian Prohibition
Last week, speculators bought up aluminum amid a $100/ton spike following news that LME aluminum may soon exclude Russian materials. The LME continues to review a ban that would keep Russian aluminum, nickel, and copper from the exchange. A Reuters post illustrated the seriousness of the move, stating that Russia’s Nornickel accounted for 7% of global […]
Tin Price Swings in 2022 and Anticipations for 2023
After a nearly two-year-long bullish trend in the tin market, the tin price recently took a bearish turn. Fed by the pandemic, the tin price reached an all-time high. However, buyer exhaustion soon overtook the market, leading to price drops. Like many metals, tin remains volatile for the moment, having bottomed out in July. But […]
Recession Fears Ramp Up Pressure on Industrial Metals Market
Experts agree that a global recession is now a foregone conclusion. Though they continue to argue about the potential extent of the damage and which countries may evade repercussions, few see any way to avoid a downturn. As usual, one of the first markets to react to the growing concern is industrial metals. Back on […]
