The Aluminum Monthly Metals Index (MMI) rose 3.16% from September to October. Aluminum prices continued to rise throughout September, with a 5.31% increase. By October 4, the uptrend found at least a short-term peak as the price of aluminum hit its highest level since June, followed by a modest decline. Get weekly updates with expert-driven […]
Category: Inventory Stock Levels
Automotive MMI: Dropping Steel Production Likely to Impact Automobile Manufacturers
The Automotive MMI (Monthly Metals Index) reduced its downward price action, moving sideways month-over-month by 0.43%. While the automotive industry dodged a bullet with the east coast port strike only lasting 3-4 days, the industry could still face more pressure due to lower steel output. Thanks to ongoing mill maintenance that began in August, hot-dipped […]
Stainless MMI: Stainless Mills Struggle With Oversupply
Overall, the Stainless Monthly Metals Index (MMI) fell 0.75% from September to October. Nickel prices moved sideways with a slight upside bias throughout September. In total, prices rose 1.64% month over month, which offered support to the 304 stainless surcharge. Stainless Entered the Month Heavily Oversupplied The stainless market opened Q4 with little optimism. Reports […]
Stainless MMI: Steep Stainless Discounts as Nickel Price Rally Collapses
Overall, the Stainless Monthly Metals Index (MMI) posted slight growth, with a 3.54% rise from August to September. Nickel prices rallied throughout August, halting months of steep declines. All in all, prices rose 3.18% during the month as they found a peak on August 30. However, the rebound proved short-lived. The price of nickel collapsed […]
Rare Earths MMI: U.S. Businesses Most Impacted by China’s Rare Earths Crackdown
The Rare Earths MMI (Monthly Metals Index) managed to reverse and pull up by 8.66% after experiencing steady declines since May. Numerous parts of the rare earths index reversed price action, including neodymium and terbium oxide. China’s recent crackdown on rare earth supplies has caused a shift in the global market, creating significant bullish sentiment […]
Why Are Aluminum Prices Up Despite Ample Supply?
Falling exchange prices and rising LME inventories this year indicate that primary aluminum is currently in ample supply. So far, aluminum prices have slightly increased since the beginning of the month as inventory levels have steadily declined. However, while the metal leaving the exchange has been Indian, a good, deliverable brand, the metal arriving has […]
Copper MMI: Mining Resumption, China Pose Risk to Copper Prices
Overall, the Copper Monthly Metals Index (MMI) fell 4.56% from July to August. Aside from a short-lived rise at the start of July, copper prices today remain in a downtrend, with prices falling 5.76% from the previous month. Prices did manage to rebound in August, although not enough to signal a trend reversal. (Follow copper […]
Lithium Market: Continued Growth, or Red Herring?
Lithium has rapidly become a critical element in the race to dominate the tech and energy sectors, resulting in a powerful and profitable global lithium market. This is mainly because the element plays an indispensable role in lithium-ion batteries, which don’t just “charge” our smartphones and laptops but also power electric vehicles. As the global […]
Renewables MMI: China’s Battery Metals Stockpile, What Does it Mean for U.S. Companies?
The Renewables MMI (Monthly Metals Index) continued to plateau, moving sideways with only a slight 1.29% drop. Currently, there isn’t enough bullish or bearish price action to yank the index too far out of its sideways trend. The historically volatile movements of grain-oriented electrical steel prices are currently the only factor adding any significant volatility […]
Iron Ore Prices Sink Below $100 as China’s Steel Mills Face Crisis
Iron ore prices hit the headlines again after dipping below the psychological barrier of US $100 per ton this Monday. It was the fourth time it crossed the threshold in a fortnight. This recent drop was nearly 30% below iron ore’s peak of $144 a ton, which it achieved in January this year. As a […]
