The Stainless Monthly Metals Index (MMI) rose by 7.6% from February to March, as the skyrocketing nickel price prompted LME intervention Tuesday. LME suspends trading due to short squeeze Russia accounts for roughly 7% of global nickel supply. So, the possibility for supply disruptions, on the back of mounting sanctions from the West, adds pressure […]
Category: Ferrous Metals
Automotive MMI: Palladium prices, nickel prices surge as sanctions hit Russia
The Automotive Monthly Metals Index (MMI) fell by 0.7% for this month’s value, as palladium prices have surged while steel prices have retreated. Last year, MetalMiner added a suite of precious metals prices to the MetalMiner Insights platform. Russia-Ukraine war, the auto sector and palladium prices The Russian invasion of Ukraine has yielded commodity price volatility […]
Invasion pushes hot rolled coil prices upward in Western Europe
Russia’s invasion of Ukraine has started to push up hot rolled coil prices on Western Europe’s domestic market due to concerns over availability and logistics, industry watchers and market participants said March 1. Keep an eye out for the upcoming Raw Steels Monthly Metals Index (MMI) report, which will include additional coverage of hot rolled […]
Current impact of the Russian invasion of Ukraine on the European metals market, metal prices
To say the situation in Ukraine — and its impact on metal prices _— is constantly evolving situation would be an understatement. No sooner is the position defined when new developments put previous assessments out of date. Nonetheless, we will do our best to address many of the developments as they are evolving this week. […]
EU brings sanctions against Russian magnates; impact on steel prices remains to be seen
Continuing our coverage of the Russian invasion of Ukraine and its impact on steel prices, aluminum prices and more, the European Union has brought sanctions against two Russian metals magnates on Feb. 28. The move comes on the heels of Russia’s invasion last week of Ukraine. This week’s MetalMiner newsletter will include additional analysis on […]
Ukraine shuts down two steel plants
Two steelmakers in Ukraine have placed their plants in conservation mode. This comes after the country’s invasion by Russian armed forces in the early hours of Feb. 24. Metinvest Holding announced that it would suspend operations for seven days throughout its hot end at the Azovstal plant as well as at the plant’s coke shop. […]
Russia sends in the troops, impacting metals markets
So, after weeks of will he, won’t he, Russian President Vladimir Putin finally ordered troops into two regions of eastern Ukraine. After recognizing Luhansk and Donetsk as independent states earlier this week, Putin made an emotional and rambling televised address to the Russian people. Where this will lead no one knows. But it seems unlikely […]
Forecasters call for rising Chinese iron ore prices
Ed note: MetalMiner analysts will present an aluminum and carbon steel price market outlook on Wednesday, March 2 at 11:00-11:30 am The price decline of iron ore appears short-lived as the Chinese government cracks down on speculative trading. This has led many market analysts to forecast a rise in ore prices in the coming months. […]
Ban on Australian coal imports has minimal impact on China steel prices
China and Australia appear to have finally moved away from each other. The relationship turned frosty after China imposed an “unofficial ban” on Australian coal imports back in November, 2019. At the time, many speculated that China would suffer more. But steel prices have held steadier as well. The dispute started between sometime in 2019 […]
The impact of Greensill Capital collapse on GFG Alliance and the UK steel making industry
Following the collapse of Greensill Capital in March 2021 many expected Sanjeev Gupta’s GFG Alliance metals empire to follow close behind. MetalMiner wasn’t alone in repeatedly questioning the murky financial structure of the sprawling group. Some media outlets suggested it reflected fraud bordering on a ponzi scheme. To most parties’ surprise, GFG has limped on […]