The Construction MMI (Monthly MetalMiner Index) flatlined sideways, moving downward by a meager 0.07%. The overall volatility of metal prices remains a primary challenge to the index. The near-stationary index contrasts starkly with the downward 2022 trend. Aside from fluctuating metal prices, the industry also had its integrity tested by several other problems. These included […]
Category: Imports
Renewables/GOES MMI: Steel Plate Drops While Battery Metals Hold Strong
The December Renewables MMI (Monthly MetalMiner Index) traded sideways, practically in a straight line. Overall, metal prices within the index only dropped 0.83%. This sideways trend contrasts sharply with the steep drop renewables saw just six months ago. Battery metals within the index, such as cobalt and silicon, held a steady sideways trend, only rising […]
Metal Markets Respond Positively as China Relaxes Zero-COVID Measures
It may be winter, but it feels like springtime for many in the metal industry and on metal prices in general. After years, China plans to ease up just a wee bit on its COVID-19 restrictions. This includes a reduction in the mandatory quarantine period, which has caused myriad problems for the country’s economy. As […]
Global Natural Gas Competition Gets Fierce
Both experts and everyday consumers remain at odds about the current state of the global natural gas market. The main point of contention is whether US prices will drop significantly or rise further. With inflation hitting record highs this past year, nobody can blame consumers for being wary. Most experts agree that gas prices and demand […]
Rare Earths MMI – US Breaking Away From Chinese Rare Earth Elements Supply
The Rare Earths MMI (Monthly MetalMiner Index) declined more sharply in July than in June. Compared to last month’s drop of 0.64%, July’s Rare Earths index dropped a total of 3.80%. Meanwhile, both the US and Europe are frantically searching for new sources of rare earth elements. Online Influence Group Causes Rare Earth Elements Uproar […]
Raw Steels MMI: Steel prices continue to drop
U.S. steel prices continue to retreat. After consistent week-over-week declines, HRC prices now sit more than 15% beneath their late-April peak while plate prices continue to trade sideways as they remain just 6% beneath their all-time high. The Raw Steels Monthly Metals Index (MMI) fell by 7.87% from May to June. Know what to do […]
UK steel tariffs hit imports from Russia
The U.K. government has imposed a 35% import tariff on iron and steel from Russia and Belarus as part of denying the two countries Most Favored Nation tariff for hundreds of their exports. The MetalMiner team will discuss the impacts of the Russian invasion in greater detail during its webinar session scheduled for Wednesday, March […]
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. […]
Russian invasion of Ukraine could have big impact on NLMK and steel buyers globally
An invasion of Ukraine by Russian armed forces could negatively impact Novolipetsk Steel’s (NLMK) export sales, due to possible sanctions by Western nations, one industry watcher told MetalMiner on Jan. 31. Steel distributors in Europe have become hesitant about what an invasion could mean in the event that they purchase steel from NLMK, the analyst […]
