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 […]
Category: Commodities
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 […]
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 […]