Looking at 2022 copper price trends, the market was nearly as volatile as metals like nickel and aluminum. Currently, copper prices are attempting to break prior highs but have yet to get there. As copper taps into short-term resistance levels, the possibility of a pullback in price appears more and more likely. Meanwhile, the copper […]
Category: Commodities
Aluminum Prices and Global Market: a 2022 Review
Aluminum prices reached a high price of almost $4,000 per metric ton on the LME primary 3-month in 2022. However, there were plenty of sales for roughly half that amount, attesting to the wide range of the 2022 index. When March’s rally ended, prices began a decline that resulted in them hitting a yearly low […]
China and Australia to Renew Trading of Iron Ore, Coking Coal, Other Goods
It’s been 50 years since Australia first established diplomatic relations with China. But compared to the relative warmth of the early years, modern relations between the two nations are in a deep freeze. Of course, Australia calling for an international inquiry into the origins of the coronavirus outbreak didn’t help matters. In fact, it led […]
Steel Prices and Global Market: a 2022 Review
Steel prices endured long-term declines throughout 2022. However, with so many geopolitical events and supply chain pinches, it is important to note that the market in general was quite volatile. Steel Prices: Q1 of 2022 Raw steels started the year with a huge bang, rising over 12% between January and February. China’s climate efforts caused […]
European Tariffs Planned for Carbon-Intensive Steel and Aluminum
Global metal manufacturing is already set to change in 2023. Indeed, the European Council and European Parliament recently reached a provisional agreement over the Carbon Border Adjustment Mechanism (CBAM). This would impose new tariffs on materials from carbon-intensive industries imported into the 27-member bloc. According to members of the Committee on the Environment, Public Health, […]
Destroyed Ukrainian Energy Grids Impact Steel Production
Steel production in Ukraine took a hit this past week due to the ongoing conflict with Russia. Industry watchers told MetalMiner that several Ukrainian steelmakers are facing production and rolling issues. Energy suppliers are rationing power distribution to major consumers. The rationing is the direct result of missile attacks and other military actions by Russian […]
Global Precious Metal MMI: Long Term Price Directions Remain Uncertain
The Global Precious Metals MMI (Monthly MetalMiner Index) stayed within a sideways range this past month. However, precious metal prices did rise by a modest 1.13%. As the US dollar dropped in value over recent weeks, precious metal indexes responded accordingly. Month-over-month, gold, platinum, and palladium all saw a brief rally between Nov 3 – […]
Copper MMI: Copper Prices Bullish as Year’s End Approaches
The Copper Monthly Metals Index (MMI) rose 3.87% from November to December. As with other base metals, copper prices broke out of range to the upside last month as China began to pivot away from zero-COVID. Copper prices rallied to a peak on November 11 before a brief and modest retracement. Shortly after that, prices […]
Automotive MMI: Interest Rates Move Up, Consumer Demand Moves Down
The Automotive MMI (Monthly MetalMiner Index) finally broke its downward trend and traded sideways, inching up by 2.53%. Meanwhile, myriad factors continue to pressure metal prices. The demand for vehicles among consumers remains strong. However, low inventories throughout most of 2022 placed a huge strain on the index. Without parts, the manufacturing of new vehicles […]
Aluminum MMI: Rally Continues as Aluminum Prices Remain Bullish
Aluminum prices broke out of their sideways trend last month with strong upside price action. Prices rallied during the first half of November, followed by a modest retracement before they continued upward. Overall, the Aluminum Monthly Metals Index (MMI) saw a modest 1.04% increase from November to December. The MetalMiner Insights platform includes global aluminum […]