At least that’s what the Financial Times reported Goldman Sachs saying this week with regard to the price of copper. The bank also revised its forecast for the average copper price to $8,698 per metric ton, down from $9,750. According to a NASDAQ post, copper prices touched a six-month low this week as speculators increased short […]
Category: Inventory Stock Levels
Experts Anticipate Long-Term Volatility in the Lithium Market
Lithium, a crucial component in electric vehicles (EVs), seems to be the metal of the season. Indeed, over the past month, the market has seen loads of fresh developments around lithium pricing. Lithium mining and lithium battery usage have also been effected. Moreover, sector experts anticipate that lithium prices will continue to be volatile over […]
Stainless MMI: Stainless Remains a Buyer’s Market Amid Flat Global Demand Projections
The Stainless Monthly Metals Index (MMI) rose a modest 0.67% from April to May. Following increased volatility over the last few months, nickel prices began to slow down in terms of sharp breakouts or breakdowns. As a result, the larger sideways trend continued with no clear direction. Does your company have a stainless buying strategy […]
Aluminum MMI: Aluminum Prices Slide as LME Faces Russian Supply Glut
Aluminum prices continued to slowly edge downward, but remained within an overall sideways trend. After prices fell 1.31% throughout April, they dropped an additional 2.22% during the first week of May. But despite the softness, aluminum prices have not yet formed lower lows, so an established downtrend is still not confirmed at this time. Interested […]
Automotive MMI: Vehicle Sales Up, Steel Prices Dropping
April saw a welcome boost in sales within the U.S. automobile market. New vehicle inventories are now in healthy shape. However, interest rates are still high, as are new vehicle prices. Moreover, the Automotive MMI index still has several factors working against it. Steel prices, notable HDG traded not only sideways, but completely flat. In […]
Chile’s Nationalization of the Lithium Industry Could Impact Lithium Prices
In the 1960s, revolutionary and often left-wing populists took control of foreign mining company assets “for the people” through “resource nationalism.” They proceeded to destroy inherent values and even plundered coffers to use for corrupt ends. Some nationalization efforts, like Chile’s, ended in the formation of Codelco, a world-class mining entity. However, far too many others did […]
China’s Yunnan Province Cuts Aluminum Production
A new question mark hangs over the fate of Chinese aluminum production for the rest of 2023. In March, China’s primary aluminum output increased by 3% compared to the same period in the previous year. However, the increase occurred at a slower pace than in previous months. While this did bring some cheer, the future […]
Automotive MMI: HDG, Palladium and Shredded Scrap Steel Prices Jump
The Automotive MMI (Monthly Metals Index) rose significantly from March to April, jumping by 9.01%. This represents the highest rise the index has seen in over a year. Numerous drivers helped bring prices up, with every part of the index rising month-over-month, including: The steel parts of the index (in particular HDG) followed trend with […]
LME Nickel Purchasers Express Concerns Over Alleged Nickel Scandal
The London Metal Exchange is back in the limelight again, along with its notorious nickel contract. This time, the news has to do with reports of potential fraud with a recent LME nickel shipment. The scrutiny comes following the discovery of nine warrants, some 54 tons of Nickel briquettes, that turned out to contain rocks. […]
Iron Ore Prices Increase as Chinese Government Prohibits Stockpiling
Iron ore futures continue to climb steadily. The Singapore benchmark for iron ore futures exceeded U.S. $130 a ton on Monday. The increase was largely due to improved steel plant profitability and a positive demand forecast in China, the world’s largest steel producer. However, these increases in the price of iron ore remained restrained by […]
