Stainless and nickel price trends fluctuated much more than carbon steel throughout 2022. The LME nickel squeeze greatly strained both the nickel and stainless steel markets. Indeed, LME nickel prices skyrocketed by almost $25,000 per metric ton back in March. Soon after, the rally cooled down again, eventually bottoming out in July. Come November, prices […]
Category: Inventory Stock Levels
Aluminum Prices and Global Market: a 2022 Review
Aluminum prices reached a high price of almost $4,000 per metric ton on the LME primary 3-month in 2022. However, there were plenty of sales for roughly half that amount, attesting to the wide range of the 2022 index. When March’s rally ended, prices began a decline that resulted in them hitting a yearly low […]
Construction MMI: Aluminum Plate and Steel Rebar Reverse
The Construction MMI (Monthly MetalMiner Index) flatlined sideways, moving downward by a meager 0.07%. The overall volatility of metal prices remains a primary challenge to the index. The near-stationary index contrasts starkly with the downward 2022 trend. Aside from fluctuating metal prices, the industry also had its integrity tested by several other problems. These included […]
Stainless MMI: Reduced Stainless Imports Could Cause Shortages, Bullish Nickel Price
The Stainless Monthly Metals Index (MMI) moved up with a 7.32% rise from November to December. Meanwhile, the nickel price index appeared decidedly bullish throughout the month. While nickel prices modestly retraced from their early month rally, upside price action continued to support the short-term range breakout. Sustained increases should foster further bullish anticipation, which […]
Stainless Steel MMI: Supplier Inventories High & Nickel Starts Rally
The Stainless Monthly Metals Index (MMI) moved sideways with a modest 1.41% decline from October to November. All in all, the stainless steel price movement primarily reacted to volatility in nickel trading. Nickel held historically low volume levels over recent months, while nickel prices remained within their short-term range. By November, however, prices began to […]
Pressure Increases on the LME to Ban Russian Metal
According to the latest metal news, the London Metal Exchange (LME) is in a quandary over how to handle metal supply from “sanctioned” Russia. Their frustrations continue to be enhanced by the fact that some nations, led by China, remain interested in buying up Russian stock. Following Russia’s invasion of Ukraine, formal and voluntary sanctions […]
Automotive MMI – Supply Shrinks, Demand Rises
The September Automotive MMI (Monthly MetalMiner Index) traded sideways, falling a modest 2.13%. The same issues continue to affect manufacturing: rising demand and too few resources. Car Manufacturing Supply Chain Woes Supply chain shortages remain a persistent problem for the global automotive industry. Indeed, many companies are still struggling to find the necessary parts and […]
LME Puts a Stop on Russian and Belarusian Nickel Warehousing
The London Metal Exchange (LME) just introduced a ban on nickel with Russian and Belarusian origins. This adds to the long list of Russian sanctions currently imposed by the UK and other NATO nations. The ban will take effect immediately in approved warehouses located within the United Kingdom. This comes not long after the UK […]
Aluminum Prices Drop Sharply Amid Increasing European Challenges
A curious tug of war continues in the Aluminum industry. It remains focused on likely demand destruction due to recessionary forces, generally blamed on central banks’ rapid raising of interest rates. Of course, we’ve all watched base metals come off sharply since the end of Q1, and Aluminum has been no exception. Indeed, after peaking […]
Automotive MMI: Auto Sector Remains Constrained
The Automotive MMI (Monthly Metals Index) held flat from April to May. This was largely the result of a number of factors working in concert. Below, we’ll dig deeper into the automotive marketplace to see if we can determine what to expect for the rest of 2022. Automotive MMI: China Auto Sales, Production Plunge In […]