The Aluminum Monthly Metals Index (MMI) edged lower, with a 1.23% decline from November to December. Aluminum Prices: A Year in Review 2024 began on a low note for the aluminum market, as Q4 2023 witnessed a year-over-year drop in shipments as well as average selling prices for certain domestic suppliers. In its financial results, […]
Category: Global Trade
Nickel Nightmare: Is Indonesia’s Dominance Hurting Global Markets?
When the story of global nickel prices is written for 2024, Indonesia and China will undoubtedly be the main characters. This is not only due to the former country’s high production output but also alleged violations of environmental rules and poor labor practices, which Indonesia has consistently denied. Indonesia is numero uno in global nickel […]
Copper MMI: Copper Prices Wrap Up 2024 Sideways, Up 7.66% from 2023
Overall, the Copper Monthly Metals Index (MMI) remained bearish, with a 4.65% decline from November to December. Copper Prices to Close 2024 Up, But the Outlook is Down Often a bellwether for the global economy, the price of copper became a bellwether for market emotionality throughout 2024. Despite lackluster demand conditions, copper prices embarked on […]
Construction MMI: China’s Export Tax Rebate Reverberates on U.S. Construction Market
The Construction MMI (Monthly Metals Index) held its sideways trend, dropping by a slight 1.09%. Despite a torrent of construction news, the index didn’t budge much month-over-month and had a minimal reaction to recent interest rate drops. The Fed will likely need to drop interest rates more aggressively for the construction index to display any […]
Déjà Vu for China: Copper Scrap Shortages Push Copper to New Heights
It’s déjà vu for China’s copper smelters. But how will it affect the global price of copper? The shortfall China faced in mid-2024 following the limited availability of copper ore in June led the country to significantly increase its imports of copper scrap as an alternative raw material. In fact, in the first five months […]
From Oil Kingdom to Mineral Titan? Inside Saudi Arabia’s Ambitious Mining Revolution
Saudi Arabia is striving to strike a balance between its oil and other mineral resources with the goal of trying to keep its energy dominance intact, something it has managed to do so far with regard to oil production. According to reports, the Kingdom wants to increase the GDP contribution of its mining industry to […]
Saudi Arabia: The Kingdom of Oil. However, is It Now the Kingdom of Metals?
With the growing imperative of a global clean energy transition, many nations face deficits in reserves of mineral resources. In response to this, a significant number of them are turning their focus to the African continent, but that’s old news. For the last year or so, Saudi Arabia has taken major steps beyond its traditional […]
Rare Earths MMI: Rebels Continue to Invade and Take Over Crucial Rare Earth Mines
The Rare Earths MMI (Monthly Metals Index) trended sideways with a slightly downward movement of 2.59%. Numerous factors remain at play within the global rare earths market. One of the most significant factors rare earths buyers need to remain aware of is the ongoing conflict within Myanmar, one of the world’s key rare earth suppliers, […]
Coking Coal’s Rollercoaster Ride: What 2024 Taught Us About Steelmaking’s Essential Ingredient
The story of coking coal in 2024, especially its price in global markets, has mainly been “one step forward and one step back.” A raw material essential for steel production, coking coal prices have been under pressure in the last half of 2024 due to sluggish growth in global steel output. Like other raw materials, […]
China’s Export Tax Rebate Shock: The Aluminum Market Faces a New Reality
A much-reported but little-understood development in the aluminum market this month has the potential to significantly alter the supply chain landscape for aluminum semi-finished metals in the year ahead. Beyond that, it could have serious repercussions for the price of aluminum around the globe. As my colleague Nichole already reported, China’s Ministry of Finance canceled […]
