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 […]
Category: Commodities
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 […]
Gas Shortage: The Ramifications of Russian Oil and Gas Cutoffs
It’s no secret that Russia’s invasion of Ukraine has had a massive global impact. From the sanctions to the natural gas supply cutoffs, the economic toll is both catastrophic and far from over. Currently, economists and other experts are trying to predict how different parts of the world will react to the gas shortage. So […]
Russia, Ukraine, and the “New Normal” of Global Steel Supply
Steel prices have waxed and waned more than usual this past year. MetalMiner has reported extensively on all of the various factors contributing to this unpredictability. Of course, you can’t ignore China’s rolling COVID lockdowns or the year-long supply chain hangups. However, we feel one of the biggest X factors for the global steel supply […]
Battery Metals For EVs: Demand Surges, but Can Recycling Keep Up?
With the surge in demand for electric vehicles, the need for EV batteries and battery metals such as cobalt and lithium has risen dramatically. However, can the US (along with other nations) keep up with this rising battery metal demand while maintaining recycling efficiency? It’s a good question, but it doesn’t have a simple answer. […]
Aluminum Prices Drop Sharply Amid Increasing European Challenges
A curious tug of war continues in the Aluminum industry. It remains focused on likely demand destruction due to recessionary forces, generally blamed on central banks’ rapid raising of interest rates. Of course, we’ve all watched base metals come off sharply since the end of Q1, and Aluminum has been no exception. Indeed, after peaking […]