The Raw Steels Monthly Metals Index (MMI) rose by 8.74% from February to March. The growth was largely due to the massive increase in the U.S. HRC Futures contract, which jumped by nearly 49%. Because of this, steel prices reacted accordingly. HRC prices continue to show bullish strength in the short term, even breaking out […]
Category: Commodities
Is India the “Winner” in Russia’s War on Ukraine?
As the old saying goes, “one man’s crisis is another’s opportunity.” Russia’s invasion of Ukraine and the subsequent sanctions and ruined trade relationships with the U.S. and Europe represents a tremendous crisis. But for the country’s long-term ally, India – and to an extent, China – it represents opportunity. From cheap Russian oil and coking […]
Copper MMI: Copper Prices Awaiting a Downturn
Recent price action suggests strong potential for the price of copper to shift away from the rally witnessed at the beginning of the year. Technical analysis (TA) indicates that copper prices have begun to form lower highs on shorter time frames. This is a strong indicator that a downtrend lies ahead. However, prices will continue […]
Automotive MMI: are Lithium Supplies Threatened by Supply Shortages?
Similar to the past six months, the Automotive MMI for March was again pulled in multiple directions. Hot dipped galvanized prices rose again, following the same trend as HRC and CRC. However, Chinese lead prices dropped significantly, pulling the index down. This was mainly due to car sales shrinking within China (the world’s top market). […]
GFG Alliance to Fight Aartee Bright Bar’s Bankruptcy Filing
On March 15, a UK court will hear a challenge by GFG Alliance against Aartee Bright Bar’s (ABB) entrance into administration, the UK equivalent of bankruptcy. The move comes shortly after the business group’s mid-February acquisition of the specialty bar producer and its steel production facilities. According to a source close to MetalMiner, the decision […]
Aluminum MMI: Price of Aluminum Falls, Tariffs Back On
Aluminum prices reacted bearishly in the short term. At the beginning of February, price action showed a short-term sideways trend with no new lows or highs. Indeed, the price of aluminum would need to break out of its current range to form a continuation trend or a reversal downward. However, future price direction currently remains […]
Lithium Ion Battery Use Could be “Playing with Fire”
Lithium-ion is having a bad day – or year. In fact, depending on the source, “years” might be more appropriate. Lithium-ion (Li-ion) has powered batteries for portable consumable electronics, electric vehicles (EVs), and other products for over two decades. But now, with Tesla cars and millions of other products using the technology, the potential hazards […]
High Energy Costs: Can Hydro Power Help Alleviate Lower Smelter Output?
Recently, I had the pleasure of interviewing Trond Gjellesvik and Charlie Straface of Hydro. Hydro is a Norwegian company specializing in green energy and low-carbon aluminum products. It is based out of Oslo, but harbors multiple business locations around the globe. I was curious to learn how the company’s efforts correlated with the current price […]
Sibanye-Stillwater Bids for Aussie Zinc Mining Firm, Zinc Prices Weaken
Johannesburg-listed metals and mining multinational Sibanye-Stillwater recently launched a bid to acquire all shares in Australian zinc miner New Century Resources. Sibanye-Stillwater currently holds a 19.9% stake in NCR. Meanwhile, zinc price movements continue to ebb and flow between the A$4400 ($3,000) and A$5200 ($3,500) range per ton. “The proposed takeover is in line with […]
Turkey’s MMK Metalurji Resumes Steel Production After Earthquake
Turkey’s MMK Metalurji is resuming steel production following several major earthquakes that rocked the country’s southern and central regions. The first two earthquakes occurred on February 6th, while another smaller quake occurred on February 20th. That same day, Russian parent company Magnitogorsk Iron & Steel (MMK) declared that specialists inspected the production site and units […]