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 […]
Category: Commodities
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 […]
Construction MMI: China Property Crisis Dominos into Industrial Metal
This month, the Construction MMI (Monthly MetalMiner Index) dropped yet again. However, it declined slightly less than those seen in previous months. Altogether, the index is down 4.60%. Industrial metal, in general, continues to struggle due to China’s COVID lockdowns and supply chain issues. The best way to track industrial metal prices is to sign […]
Russian Steel Producer MMK Added to Latest US Sanctions List
On August 2, the United States officially added integrated steelmaker Magnitogorsk Iron & Steel (MMK) and its chairman Viktor Rashnikov to its list of sanctioned entities. The move is yet another punitive measure in response to Russia’s February invasion of Ukraine, in hopes that the steel manufacturing sanction will place more economic pain on Russia. […]
Copper MMI: Copper Prices Move Sideways Amid Conflicting Data
The Copper Monthly Metals Index (MMI) dropped 7.33% month over month as components declined across the board. Still, copper prices seem reluctant to pick a direction. In the lead-up to August, copper prices saw notable increases. There were also several bullish indicators of note, including higher short-term highs. In short: after months of declines, prices […]
UK Hopes to Get Ahead of Rare Earths Supply Problem
By: Sohrab Darabshaw Rare earths have seen a surge in demand all around the world. After all, these minerals are key components of everything from solar panels to electric car batteries to defense equipment. And with Russia’s invasion of Ukraine disrupting much of the supply chain, the need for rare earths has become even more […]
Rare Earths MMI: Rare Earth Prices Slide Further as World Looks for New Supplies
The Rare Earths MMI (Monthly MetalMiner Index for rare earth metals) extended its decline in July, dropping another 2.8%. This is a significant move for rare earths prices, and reinforces the subtle downtrend that began back in April. Now more than ever, countries are frantically searching for ways to separate their rare earths supply from […]