The Renewables MMI (Monthly MetalMiner Index) traded sideways in January, dropping a mere 1.28%. A significant drop in grain oriented electrical steel had the largest impact on the index month-over-month. Other parts of the index, particularly steel forms, managed to hold up better, trading sideways or rising slightly. Overall, the world continues to push for […]
Category: Industry News
Grain Oriented Electrical SteeI: India Steps on the Gas Pedal
New-age steel technologies are exclusive to a select few nations around the world. For this reason, they can only be acquired with significant domestic R&D expenditures or from those countries that already possess them. Either way, these technologies are critical for producing specialized steel products. Among these are automobile-grade continuous annealed products (AGCAP), non-oriented electrical […]
Chinese Stock Market Rises, Metal Prices Follow Suit
The Chinese stock market reacted to Beijing’s about-face on COVID infections with a surge in prices, particularly in tech stocks. Due to a strong correlation with the stock market, metal prices have continued to rise since December. The expectation is that abandoning any meaningful attempt to control the spread of the virus will allow the […]
Aluminum Inventories Still Historically Low, Prices Edge Upward
As with many base metals, aluminum prices rose at the beginning of January. While it is true that China raising aluminum export taxes could have impacted aluminum prices, the market has witnessed somewhat volatile conditions since late September of 2022. And though prices are nowhere near their March 2022 historic rally levels, they still remain […]
Construction MMI: Chinese Sourced Steel Prices Spike, Supply Pinches Possible
The Construction MMI (Monthly MetalMiner Index) rose considerably by 7.68%, with Chinese steel prices getting a significant boost. In fact, all facets of the index related to China (except for iron ore) increased. The movement came in the wake of zero-COVID restrictions lifting, which resulted in a sharp rise in coronavirus cases. While this was […]
Low-Carbon Aluminum Market Could See 10% Production Boost in 2023
Experts project both demand and supply of low-carbon aluminum will grow substantially in 2023. Indeed, some reports, like this analysis by Reuters, forecast a more than 10% boost in the production of low-carbon metal. The question is, what does this mean for the aluminum market as a whole? Moreover, will the low-carbon switch be as […]
Are Manufacturing PMIs All They’re Cracked Up to Be?
Here at MetalMiner, we’re not very big fans of manufacturing PMIs. They tend to overstate trends, and month-by-month data can be misleading. This is especially true when trying to extrapolate medium term trends. That said, when taken in conjunction with metal price movements – which are driven more by actual demand than sentiment – PMI’s […]
Canada Prohibits Chinese Investments in Lithium, Nickel, and Cobalt Sectors
Canada has a new foreign investment rule that is sure to send ripples through the mineral and metal mining sector. Indeed, the country recently requested that China immediately sell its holdings in three Canadian mining companies. According to media reports, national security is the primary reason for the new order. Indeed, the decision followed a […]
Aluminum MMI: Aluminum Prices on the Rise After Sideways Trend
Aluminum prices consolidated last month within a range formed between late September and early October. The index’s unclear direction posed a higher risk to buyers, as prices could either reverse to the upside or continue downward. However, by early November, prices seemingly turned bullish. Shortly after, they enjoyed a steady climb toward the top of […]
Automotive MMI: Consumer Demand High, Manufacturing Materials Low
The November Automotive MMI (Monthly MetalMiner Index) continued its long-term downward trend, falling by 5.04%. The drop is surprising to some extent, considering the demand for cars remains high in the U.S. and backlogs are keeping sales lucrative. However, obtaining raw materials for part manufacturing remains a problem. For instance, steel prices are still on […]
