The copper industry showed resilience through many market challenges throughout 2022. Despite dropping prices and demand, copper continues to fight against obstacles ranging from Europe’s energy crisis and smelter shutdowns to China’s property crisis and shrinking demand. As MetalMiner noted earlier this month, copper markets do remain particularly volatile. And while prices traded sideways in […]
Category: Commodities
Low-Carbon Demand Could Positively Impact US Steel Prices
The Biden-Harris Administration today announced that they would “prioritize the purchase of key low-carbon construction materials, covering 98% of materials purchased by the Federal government.” As steel plants shutter around the world, this is a boon to U.S. manufacturers concerned about dropping steel prices. The announcement highlights the latest section of the “Buy Clean” initiative, […]
Global Precious Metals MMI: Gold Hits Yearly Low
The September Global Precious Metals MMI (Monthly Metals Index) moved sideways, dropping by just 1.8%. Despite the slight loss, month-over-month, gold prices hit lows not seen in around two years. MetalMiner’s FREE September webinar is tomorrow! Learn how to gauge metal prices and explore battery metal pricing. Sign up here! Gold Hits Yearly Low Amid […]
Stainless Steel MMI: Nickel Prices Move Sideways, Begin to Climb in September
By Nichole Bastin and Katie Benchina Olsen The Stainless Steel Monthly Metals Index (MMI) dropped 5.08% from August to September. Nickel prices began to rise this month, breaking through prior highs visible on shorter time frames such as the hourly and daily charts. Ultimately, prices bounced off bullish zones formed before the LME’s shutdown in […]
Metal Production, Copper Extraction, and the Upcoming Price Transformation
At the start of this year, Rio Tinto PLC and the Mongolian Government announced they had reached an historic agreement with copper and metal manufacturing. The announcement came after a long tussle over the $6.93 billion expansion project for the Oyu Tolgoi copper-gold mining project. Last week, Rio Tinto agreed to buy out Turquoise Hill […]
Steel Manufacturing: ArcelorMittal Poland Plans Extended Shut-Down
On September 8, ArcelorMittal Poland announced it would take Blast Furnace No. 3 at the Dąbrowa Górnicza steel manufacturing plant off stream starting in late September. According to the company, the temporary measure is a response to current market conditions throughout Europe. At the moment, ArcelorMittal plans to have the furnace of stream for approximately […]
Construction MMI: Industrial Metal Supplies Low, Prices High
The September Construction MMI traded sideways, falling a modest 2.56%. However, this trend will likely not continue. Supply and energy shortages continue to weigh heavily on the industrial metal and construction industries. Strains on US Construction Smelter shutdowns and industrial metal slow-downs in China were not kind to the Construction MMI last month. Back in […]
Metal Prices in Decline
After powering to new highs in the Spring, metal prices continue to slide. Iron ore, aluminum, and copper have all fallen to varying degrees, and those merely represent the largest volumes. Meanwhile, the bulls continue to retreat while demand fears trump supply fears. Prices surged earlier this year based on several predictions. The first was […]
Rare Earths MMI – Chinese Supply Stifled and “Dirty” Mining
The September Rare Earths MMI (Monthly MetalMiner Index) fell drastically by 9.87%. Alternatives to Chinese Rare Earths In last month’s MMI, MetalMiner reported how nations all around the globe were searching for alternatives to rare earth exports from China. After all, the ongoing Chinese property crisis and limited industrial output continue to strain the country’s […]
Copper MMI: Copper Price Rally Falters
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 […]