Category: Inventory Stock Levels

Copper MMI: Risks to the Copper Price Uptrend

Copper MMI: Risks to the Copper Price Uptrend

Overall, the Copper Monthly Metals Index (MMI) rose 17.36% from April to May. The copper price uptrend accelerated throughout April. Bullish momentum saw prices surge nearly 14% from the close of March. By April 29, prices pushed past the $10,000 per metric ton mark. They continued to move even higher by mid-May, with an additional […]

Aluminum MMI: Aluminum Prices Retreat after Failing to Break 2023 High

Aluminum MMI: Aluminum Prices Retreat after Failing to Break 2023 High aluminum-ingots-aluminum-industrial-production-material-pi

Overall, the Aluminum Monthly Metals Index (MMI) rose 7.06% from April to May. The aluminum price remained bullish throughout April, rising 11.47% month over month. However, prices found a peak on April 22 when they failed to break above their 2023 high. They then retraced to the downside during the remainder of the month and […]

Automotive MMI: Will Potential Copper Shortages Impact the Automotive Market?

Automotive MMI: Will Potential Copper Shortages Impact the Automotive Market? car copper

The Automotive MMI (Monthly Metals Index) broke out of its nearly 6-month-long sideways trend amid several changes in metals prices. Month-over-month, the index rose 5.24%. Except for shredded scrap steel and palladium, most components of the index either moved up or sideways with slight upward movement. With the recent LME and CME ban on Russian […]

Stainless MMI: Mills Post Q1 Results as Nickel Prices Stabilize

Stainless MMI: Mills Post Q1 Results as Nickel Prices Stabilize Nickel chunks

Nickel prices followed other base metals up throughout April, with a nearly 15% month-over-month rise. By late April, prices hit their highest level since September, although they subsequently began to retrace as upside momentum cooled. Overall, the Stainless Monthly Metals Index (MMI) rebounded, with a 9.58% jump from April to May. Outokumpu, Acerinox Post Q1 […]

Raw Steels MMI: Steel Prices Sideways Following Mill Price Reporting

Raw Steels MMI: Steel Prices Sideways Following Mill Price Reporting steel rolls, steel prices

The Raw Steels Monthly Metals Index (MMI) moved sideways, with a modest 1.86% decline from April to May. U.S. flat rolled steel prices found a bottom at the close of March and proceeded to move sideways. HRC prices saw a modest increase, but ultimately closed the month at $838 per short ton. Meanwhile, HRC Midwest […]

Copper Hits Record $10,000 Milestone: Experts Warn of Impending Supply Crisis

Copper Hits Record $10,000 Milestone: Experts Warn of Impending Supply Crisis Copper wire and copper prices

It took about 24 months for the price of copper to reach the psychological mark of U.S. $10,000 per metric ton. Three-month copper futures on the London Metal Exchange (LME) touched the $10k mark last week. The last time copper crossed this threshold was in March 2022, when it reached $10,845 per ton in the […]

Copper MMI: Sanctions Hit Copper Market, Volatility Ahead

Copper MMI: Sanctions Hit Copper Market, Volatility Ahead copper

Copper prices continued their breakout during March, rising 4.25%. Prices then formed a second higher high on March 15, followed by a new higher low on March 27. The rally continued throughout April as prices climbed an additional 7.59%. As of April 15, they stand at their highest level since June 2022. Subscribe to MetalMiner’s […]

Stainless MMI: Nickel Prices Retrace Amid Slow Stainless Market

Stainless MMI: Nickel Prices Retrace Amid Slow Stainless Market stainless steel prices

Nickel prices continued to the upside during the first half of March, taking a momentary pause from their long-term downtrend. However, prices found a peak by March 13, reaching their highest level since October 2023. Following that, the rally collapsed, and prices returned to the downside. Overall, nickel prices fell 5.56% month over month. The […]

Automotive MMI: Automotive Market Improves, but Bears Show Up for Steel Prices

Automotive MMI: Automotive Market Improves, but Bears Show Up for Steel Prices automotive news

Month-over-month, the Automotive MMI (Monthly Metals Index) dropped by 3.03%. While the automotive market continued to improve overall, bearish pressure on certain steel prices like hot-dipped galvanized steel, ultimately forced the index down. Experts anticipate this bearish pressure to continue impacting both steel prices and automotive manufacturing in the short term. Despite this, the automotive […]

Stainless MMI: Stainless Steel Prices, a Bearish Market, Outokumpu Expects Quarterly Improvement

Stainless MMI: Stainless Steel Prices, a Bearish Market, Outokumpu Expects Quarterly Improvement Outokumpu

The downtrend for nickel prices showed signs of exhaustion, with significant potential to impact stainless steel prices. Nickel moved sideways throughout January with a modest 1.60% decline. While directional momentum remained slow, prices continued to edge lower during the first weeks of February and now sit at their lowest level since April 2021. Overall, the […]

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