The September Global Precious Metals MMI (Monthly Metals Index) moved sideways, dropping by just 1.8%. Despite the slight loss, month-over-month, gold prices hit lows not seen in around two years. MetalMiner’s FREE September webinar is tomorrow! Learn how to gauge metal prices and explore battery metal pricing. Sign up here! Gold Hits Yearly Low Amid […]
Category: Industry News
Metal Production, Copper Extraction, and the Upcoming Price Transformation
At the start of this year, Rio Tinto PLC and the Mongolian Government announced they had reached an historic agreement with copper and metal manufacturing. The announcement came after a long tussle over the $6.93 billion expansion project for the Oyu Tolgoi copper-gold mining project. Last week, Rio Tinto agreed to buy out Turquoise Hill […]
Construction MMI: Industrial Metal Supplies Low, Prices High
The September Construction MMI traded sideways, falling a modest 2.56%. However, this trend will likely not continue. Supply and energy shortages continue to weigh heavily on the industrial metal and construction industries. Strains on US Construction Smelter shutdowns and industrial metal slow-downs in China were not kind to the Construction MMI last month. Back in […]
Aluminum MMI: Aluminum Prices Decline as Energy Crisis Worsens
This week, aluminum prices approached long-term weekly demand zones. These are price levels that typically trigger a strong upswing. Before the most recent short-term declines, prices bounced off these levels, rising back into zones of strong downward movement (supply zones). Should prices continue to break downward, it could indicate a downtrend continuation. Moreover, the longer […]
Metal Prices in Decline
After powering to new highs in the Spring, metal prices continue to slide. Iron ore, aluminum, and copper have all fallen to varying degrees, and those merely represent the largest volumes. Meanwhile, the bulls continue to retreat while demand fears trump supply fears. Prices surged earlier this year based on several predictions. The first was […]
Interview with Indiana’s Jennifer-Ruth Green: (IN-1) Congressional District Candidate
Northwest Indiana serves as the home of some of the largest steel mills in the United States. It also happens to be the new home of MetalMiner. Heavy industry dominates the local economy, juxtaposed with the Dunes (now known as the 61st National Park) and Lake Michigan. It’s also home to the 1st Congressional district […]
Steel Manufacturing Shutters While Prices Drop
Hot rolled coil prices in Northern Europe declined further the past week due to low demand in steel manufacturing. According to sources, this was due partly to higher costs and uncertain economic outlooks. “There is too much pressure from imports, and stock levels are too high,” one trader told MetalMiner when asked about the declining […]
Chinese Stimuli and the Impact on Steel and Iron Ore Prices
A few days ago, China’s State Council announced more stimulus policies. The new measures included an additional 300 billion yuan ($44 billion) in quotas for infrastructure spending and investments by banks. This was in addition to the 300 billion yuan announced in June-end. However, looking at everything happening with steel and iron ore prices, the […]
Renewables & GOES MMI – Power Generation Problems Limit Energy Resources
The September Renewables MMI (Monthly MetalMiner Index) dropped by 6.3%. Like previous months, energy limitations was the biggest factor in the drop as high temperatures and limited energy resources strain power generation systems around the globe. Power Generation and the “Green Bottleneck” At the end of August, President Biden officially signed the Inflation Reduction Act […]
China’s Steel Supply Encounters Significant Hurdles.
Everyone thought a COVID-19 ravaged steel supply market in China took a turn towards recovery. However, many other hurdles now stand in the way, both long & short term. Power cuts and muted demand driven by the construction crisis in China stand in the path of growth. Even worse, the cascading effect has affected the […]