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 […]
Category: Industry News
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 […]
Indonesia Considering Downstreaming to Retain Processed Tin Domestically
The Indonesian government has plans to shake up the tin market over the next few months. One analyst told MetalMiner that the Southeast Asian country aims to expand downstreaming opportunities for refined tin rather than continue exporting the majority of its supply. According to the analyst, the government wants to attract end-users, such as solder […]
Double Digit Cost Savings on The Table For 2023
2023 Budgets Should Reflect Declines in Metal Prices Most metal prices experienced considerable drops from price levels seen just a year ago. Indeed, excluding lead, all non-ferrous and ferrous metal prices appear considerably below price levels seen in 2021. Most suppliers continue to stay quest amidst this decline, opting to place the onus of cost […]