This morning in metals news: U.S. industrial production picked up in July; the Energy Information Administration revised downward its OPEC petroleum production forecast; and, lastly, Russia’s Rusal recently announced its half-year results. Cut-to-length adders. Width and gauge adders. Coatings. Feel confident in knowing what you should be paying for metal with MetalMiner should-cost models. Industrial […]
Category: Commodities
Oil prices are unlikely to be lower for much longer
You wouldn’t believe the oil price had been quietly falling since early July when you went to fill up your tank this summer. Gasoline demand is nearly back to pre-pandemic levels from 2019. As a result, pressure on refiners has been so marked that prices have risen sharply enough to make the Biden administration urge […]
This Morning in Metals: Natural gas exports to exceed imports this year, EIA forecasts
This morning in metals news: the Energy Information Administration forecast U.S. natural gas exports will exceed imports this year; aluminum prices remained near 10-year highs last week; and, finally, the Associated General Contractors of America reported on the rise in construction input costs. The MetalMiner Best Practice Library offers a wealth of knowledge and tips […]
This Morning in Metals: Senate passes $1T infrastructure bill
This morning in metals news: the U.S. Senate on Tuesday voted to pass a $1 trillion infrastructure bill; the Consumer Price Index for All Urban Consumers rose once again in July; and, finally, the Energy Information Administration forecast lower-than-average natural gas inventories heading into the winter heating season. You want more MetalMiner on your terms. […]
Metal News for the Day: On Monday, there is an almost 3% decrease in oil prices
This morning in metals news: Oil price fall nearly 3% on Monday. Chinese steel exports rise in July. Copper and cobalt production to double at Tenke Fungurume mine in the DCR with a $2.5 billion investment from a Chinese firm. Cut-to-length adders. Width and gauge adders. Coatings. Feel confident in knowing what you should be […]
Copper MMI: Fears over tight copper market
The Copper Monthly Metals Index (MMI) increased by 3.5% for July’s reading, as the LME copper price increased by approximately the same. LME trading volumes, along with prices, traded sideways for the first three weeks of the month and picked up pace toward the end of the month, signaling an uptrend. Prices reached $9,856/mt before […]
Week in Review: Natural gas prices soar; China steel reduction; Aluminum prices
Before we head into the weekend, let’s take a look back at the news that was and some of the metals storylines here on MetalMiner: Soaring natural gas prices and inflation; China’s aims to further reduce steel output; Aluminum prices near a decade high, according to our Monthly Metals Index coverage. Look for the Copper […]
This Morning in Metals: Global semiconductor shortage may continue into 2023
This morning in metals news: The global semiconductor shortage may continue into the next year or more. In other news, after failing to reach an agreement Thursday on the $1 trillion infrastructure bill, the U.S. Senate aims to finalize it Saturday. Also in the news, South Korea plans to raise its stockpiles of 35 “critical […]
This Morning in Metals: US executive order expected for 50% zero-emissions vehicles by 2030
This morning in metals news: An executive order is expected Thursday from President Joe Biden pledging that 50% of new vehicles sold in 2030 be zero-emissions. In other news, EVE Energy announced plans for a lithium-ion battery facility in China. Also, GFG settles disputes with Tata Steel and Rio Tinto following financing issues. The MetalMiner […]
Natural gas prices adding to inflationary cost pressures
Commodities in the form of metals and agricultural products are not the only goods facing price inflation this year. Power costs have been driven higher by a combination of pandemic bounce-back, extreme weather in the U.S., Europe and Russia this summer, and supply constraints. Are you prepared for your annual steel contract negotiations? Be sure […]