Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines of the week here on MetalMiner, including coverage of the nickel price, oil prices, housing starts and more. Overall, steel prices continue to rise. Meanwhile, after experiencing significant price declines, lead and nickel […]
Category: Commodities
Iron ore price reaches 10-year high but retraces after Five-Year Plan details
Seaborne iron ore prices hit a 10-year high this month at $178 per ton before profit taking. Investors bet on strong steel demand and robust consumption in top consumer China. Iron ore price and pollution in China But following the release of details in China’s new Five-Year Plan calling for wide-ranging and ambitious targets to […]
EIA: Oil prices expected to continue to rise through April on lower output
Oil prices have been on the rise for months and, according to the Energy Information Administration (EIA), they appear likely to remain elevated in April. “The sustained OPEC+ production curtailment through April suggests that supply will remain constrained in the near term, even as demand continues to increase,” the EIA explained Wednesday. The MetalMiner Best […]
Week in Review: ArcelorMittal and GFG; copper prices; China’s Five-Year Plan
Before we head into the weekend, let’s take a look back at the week that was and some of the metals coverage here on MetalMiner, including coverage of ArcelorMittal, copper prices, China’s latest five-year plan and much more: Week of March 8-12 (ArcelorMittal, China’s Five-Year Plan and more) Australia’s Lynas Rare Earths reported its half-year […]
OPEC producers walk a fine line amid oil price run-up
This time last year, Saudi Arabia all but announced war on America’s fracking industry and major OPEC+ partner Russia by releasing a flood of oil onto the world market just as the pandemic was getting underway. The pandemic, among other impacts, led to a plunge in oil demand. The unprecedented collapse in prices took oil […]
This Morning in Metals: Nucor to build new tube mill in Midwest
This morning in metals news: Nucor announced plans to build a new tube mill in the Midwest; meanwhile, the Bureau of Labor Statistics released the Consumer Price Index summary for February; and the oil price pulled back slightly this week. Nucor to build new tube mill Nucor Corporation said Tuesday its Board of Directors had […]
Week in Review: Steel capacity; February US auto sales; OPEC meets
Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner, which this week includes coverage of steel capacity utilization, the latest OPEC ministerial meeting and much more. Overall, most base metals seem to be retracing from a late February peak. […]
This Morning in Metals: OPEC ministers agree to maintain March output levels into April
This morning in metals news: ministers of oil-producing countries agreed this week to by and large maintain March output levels in April; Texas and Florida posted gains in small-scale solar capacity last year; and China’s steel imports surged in 2020. The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers […]
This Morning in Metals: March 2021 MMO report is out
This morning in metals news: the March 2021 Monthly Metal Outlook (MMO) report is out; meanwhile, annual natural gas production declined in 2020; and, finally, pending home sales declined in January. Find more insight on MetalMiner’s LinkedIn. March 2021 MMO report Every first of the month, MetalMiner publishes its Monthly Metal Outlook forecast report, available […]
Following a strong recovery, how much further does oil have to go?
The Brent crude oil price has continued a dramatic recovery this year. Brent crude last week briefly crossed $66 a barrel (where it started 2020). A recovery in demand has stoked oil prices. That demand surge is largely coming from the prospects of an acceleration in transport activity as vaccine programs roll out. Find more […]