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 […]
Category: Industry News
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 […]
Glencore Slows Energy-Intensive Zinc Smelting
Glencore plans to place the zinc smelting line at its Nordenham plant in northern Germany on care and maintenance starting November 1. This represents yet another major blow to European metal manufacturing, which continues to see shutdowns amid the continent-wide energy crisis. In an October 5 memo, the London and Johannesburg-listed company’s supervisory board chairman, […]
Raw Steels MMI: Steel Prices Flatten, Slowly Edge Downward
The Raw Steels Monthly Metals Index (MMI) fell by 3.04% from September to October. U.S. steel prices continued to drop throughout September. However, declines for both hot rolled coil prices and cold rolled coil prices slowed to a sideways trend. Plate prices, which have shown the most strength of steel prices, traded down for the […]
Renewables MMI: Battery Metal Markets Hold Sideways Trend
The October Renewables MMI (Monthly MetalMiner Index) dropped yet again, but by less than in previous months. All in all, prices fell by 3.28%. The demand for battery metals due to the growing EV market largely kept the index afloat. Still recovering from August’s steep drop, Cobalt traded sideways between September 1 and October 1, […]