The Copper Monthly Metals Index (MMI) moved sideways from August to September as the index rose 1.13%. Meanwhile, copper prices remain steady. Copper prices began to slide at the beginning of September. This came after they caught a temporary bounce in late summer. Prices then began to break through short-term lows, indicating the potential for further […]
Category: Commodities
Steel Manufacturing Shutters While Prices Drop
Hot rolled coil prices in Northern Europe declined further the past week due to low demand in steel manufacturing. According to sources, this was due partly to higher costs and uncertain economic outlooks. “There is too much pressure from imports, and stock levels are too high,” one trader told MetalMiner when asked about the declining […]
Stainless Steel in a “Commodity Standoff”
Stainless steel prices continue to struggle as we approach the final quarter of the year. Meanwhile, nickel prices float just above their 2021 average, closing August at $21,320 / mt. Both indices seem to indicate an overly-cautious marketplace, with buyers and sellers seemingly waiting to see what the other will do. This sort of “commodity” […]
Europe Facing Energy Crisis This Winter
A post in the Financial Times this week reported on comments made by Shell’s chief executive Ben van Beurden. In the article, Ben van Beurden focused mainly on the criticality of Europe’s energy crisis. “That this is going to be somehow easy, or over, I think is a fantasy that we should put aside,” Van Beurden […]
Global Natural Gas Competition Gets Fierce
Both experts and everyday consumers remain at odds about the current state of the global natural gas market. The main point of contention is whether US prices will drop significantly or rise further. With inflation hitting record highs this past year, nobody can blame consumers for being wary. Most experts agree that gas prices and demand […]
US Charges Towards Green Energy
The US seems well on its path to green energy. President Joe Biden recently signing into law the biggest clean energy investment in US history. The package includes $370 billion in subsidies for solar and wind energy development, electric vehicles, etc. Taking a cue, the United States Steel Corporation (U.S. Steel) and Shell US Gas […]
LME Puts a Stop on Russian and Belarusian Nickel Warehousing
The London Metal Exchange (LME) just introduced a ban on nickel with Russian and Belarusian origins. This adds to the long list of Russian sanctions currently imposed by the UK and other NATO nations. The ban will take effect immediately in approved warehouses located within the United Kingdom. This comes not long after the UK […]
Should We Prep for a Zinc Price Rally? Many Say Yes
If you look at zinc price trends from this past year, it’s hard to identify what you might call a “clear trend.” After building from a pandemic-driven low of just $1,960 a ton, the metal skyrocketed to over $4,500 just four months ago. Unfortunately, pride cometh before a fall. And fall zinc did. In fact, […]
Base Metal Prices Contradict the Changing Supply Scenario
Given the state of the world, one would expect base metal prices to show every sign of a resurgence. Certainly, analysts have been bullish about a supply squeeze for months because sky-high natural gas prices forced record electricity costs across Europe. Just this week, the FT reported that Aluminum and Zinc smelters continue to close […]
Raw Steels MMI: Steel Prices Decline Amid Record HRC / Plate Spread
The Raw Steels Monthly Metals Index (MMI) fell by 8.73% from July to August. All in all, U.S. steel prices continued their descent, leaving cold rolled coil and hot dipped galvanized prices at their lowest point since January 2021. Meanwhile, hot rolled coil prices fell well beneath the $1,000/st mark, reaching their lowest point since […]
