The Rare Earths MMI (Monthly MetalMiner Index) dropped a staggering 11.22% this past month. Industrial production within China proved slow in January. This significantly affected the index, as China remains the source of many rare earth oxides. And with numerous countries searching for non-Chinese rare earth supplies, the Chinese-sourced parts of the index fell greatly. […]
Category: Industry News
Sibanye-Stillwater Bids for Aussie Zinc Mining Firm, Zinc Prices Weaken
Johannesburg-listed metals and mining multinational Sibanye-Stillwater recently launched a bid to acquire all shares in Australian zinc miner New Century Resources. Sibanye-Stillwater currently holds a 19.9% stake in NCR. Meanwhile, zinc price movements continue to ebb and flow between the A$4400 ($3,000) and A$5200 ($3,500) range per ton. “The proposed takeover is in line with […]
What’s Wrong with Today’s Metal Price Forecasts?
Not many years ago, I attended a large steel conference. A speaker there referenced his past years’ price predictions by saying, “I sure got that wrong.” To many, picking metal prices as a means of providing a price forecast may seem like a fool’s errand. But in reality, technology and techniques have evolved long past […]
Aluminum Shortage Coming? U.S. Considers 200% Tariff on Russian Aluminum
A potential aluminum shortage could be rearing its ugly head once again. This will prove especially true if the U.S. goes ahead with a proposed move to shut out all Russian aluminum unilaterally. Currently, the plan is to accomplish this via a tariff of up to 200%. Thus far, Russian metal producers have largely evaded […]
U.S. Likely to Push Through 200% Tariff on Russian Aluminum
News of the U.S. enacting a 200% tariff on Russian aluminum has evoked a mixed bag of reactions. Some experts say it will have significant implications for the global aluminum market, including a potential aluminum shortage. Others feel the tariff will only impact price speculation. Generally, the latter group expects little else to change with […]
Renewables/GOES MMI: Sideways Trend Continues, “Green Steel” Gains Momentum
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 […]
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 […]