The extremely high natural gas prices this past winter have left many Europeans reeling. At the time, the increased costs were blamed on a shortage of Russian supplies. Today, many are wondering if the restrictions on gas exports by Russia were intentional. A reminder to Europeans of their vulnerability prior to the invasion of Ukraine, […]
Category: Global Trade
EU’s Russian Coal Ban Set to Impact Metal Prices
On April 8th, the European Union announced plans to ban imports of Russian coal. This, of course, comes in the wake of that country’s February invasion of Ukraine. The decision is part of the fifth round of sanctions against the Kremlin. And with the Russian economy already poised for a massive contraction, prices – including […]
The MetalMiner take on initial sanctions imposed by the West on Russia
Although the West issued a new round of sanctions late on Sunday, it remains unclear what effect they will have. The new sanctions, including the prohibition of Russia flying over European airspace, as well as the funding of arms for Ukraine, came on Sunday. Nobody at MetalMiner believed the earlier sanctions through Friday would put […]
Nickel prices jump on Russia moves while LME stock levels continue to fall
The London Metal Exchange’s (LME) nickel price shot up by more than $1,000/mt on Friday Feb 25, a rise that one analyst directly connected to Russia’s invasion into Ukraine. The official, three-month nickel bid price reached $25,625 per metric ton on Feb. 24, The price increased 4.3% on the day from $24,575/mt, data from the […]
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 […]
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 […]
Renewables and GOES MMI increase despite steel price decline
The Renewables Monthly Metals Index (MMI) rose by 4.6% month over month. California to add more renewables, batteries The California Public Utilities Commission (PUC) approved plans in early February to expand renewables and batteries as part of California’s power resources. The decision supports California’s larger ambitions to procure all of its electricity from clean sources […]
China’s land and expand plan to source critical metals and materials globally
In 1953, China spelled out its 1st “Five-Year Plan”. The strategy involved maximizing the nation’s control over exploration, production, and exports of natural resources. Based upon all available indicators, the country seems to have succeeded in “extending” that plan around the globe. News out of China earlier this week confirmed this fact. Ecuadorean President Guillermo […]
Stainless MMI: Nickel surged to 11-year high
The Stainless Monthly Metals Index (MMI) rose by 7.46% from January to February. Nickel prices surged to an 11-year high last month, due to plummeting LME warehouse inventories. Prices retraced in late January after a minor sell off, but managed to rebound. As prices climb toward recent highs, they may either breakout to new levels. […]
Raw Steels MMI: Prices slide while capacity grows
The Raw Steels Monthly Metals Index (MMI) fell by 4.6% month over month. U.S. steel prices continue to fall, led by HRC. Plate prices moved sideways. Nonetheless, they remain beneath their peak. U.S., Japan reach Section 232 tariff agreement The U.S. and Japan reached an agreement regarding steel imports from Section 232 tariffs. Announced Feb. […]
