Hot rolled coil steel prices in Western Europe remain largely unchanged since early September. However, as various market participants told MetalMiner, this is despite attempts by at least one steelmaker to increase them According to our sources, multiple factors continue to suppress demand for flat rolled products. These include a slowdown of public works programs […]
Category: Industry News
Copper Prices: Firming of Resistance and Demand Zones
The copper industry showed resilience through many market challenges throughout 2022. Despite dropping prices and demand, copper continues to fight against obstacles ranging from Europe’s energy crisis and smelter shutdowns to China’s property crisis and shrinking demand. As MetalMiner noted earlier this month, copper markets do remain particularly volatile. And while prices traded sideways in […]
Low-Carbon Demand Could Positively Impact US Steel Prices
The Biden-Harris Administration today announced that they would “prioritize the purchase of key low-carbon construction materials, covering 98% of materials purchased by the Federal government.” As steel plants shutter around the world, this is a boon to U.S. manufacturers concerned about dropping steel prices. The announcement highlights the latest section of the “Buy Clean” initiative, […]
Global Precious Metals MMI: Gold Hits Yearly Low
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 […]
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 […]