The Global Precious Metals MMI (Monthly Metals Index) showed slight upward price action month-over-month, rising by 2.57%. Despite this, the overall trend of the index held sideways. In terms of specific precious metal prices, platinum and silver experienced upward price action through May before retreating back into range at the beginning of June. This served […]
Category: Investing Hedging
Copper MMI: Copper Prices Reverse as Speculative Rally Unravels
Overall, the Copper Monthly Metals Index (MMI) rose 3.48% from May to June. A short squeeze helped the price of copper peak at a new all-time high in late May, followed by a sharp downside correction. This resulted in an overall 3.7% rise from the close of April. CME copper prices then continued to retrace […]
Preparing for Annual Contract Negotiations: A Guide for Metal Sourcing Companies
Metal sourcing firms must have a thorough awareness of market trends and metal prices to prepare for the approaching yearly contract negotiations in the fall. This involves identifying any swings in metals prices through in-depth investigation and analysis while also comprehending the variables behind these swings. Each week, MetalMiner’s newsletter covers these exact patterns. Sourcing […]
Stock Market Soars as S&P 500 and NASDAQ Hit Record Highs
With the most recent economic data coming in hot for this month, overall financial markets presented optimistic signals. Amid futures tied to major stock indexes rallying to new highs, markets could see a significant impact on metal prices, including gold and copper prices. The S&P500 closed just over $528, and the NASDAQ composite index closed […]
AngloAmerican Announces Divestment of Coal, Platinum, Nickel, and Diamonds to Focus on Core Businesses
AngloAmerican plans to divest several assets under its plans to simplify its portfolio, including coking coal. The move follows the company’s 2023 asset review, but also serves to rebuff a takeover takeover bid from Australia’s BHP. “Each asset was assessed for competitiveness and performance optimization potential and for its role in the portfolio,” AngloAmerican said […]
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 […]
Global Precious Metals MMI: Gold Prices Surge, But is It a Gold Rush, or Gold Bust?
Month-on-month, the Global Precious Metals MMI (Monthly Metals Index) rose by 8.25%. However, shortly after April 1, precious metal prices, particularly gold and silver, began surging as investors flocked to purchase as many gold bullions as possible. The reasons for this newfound “gold rush” include inflation hedging, anticipation of interest rate cuts, and geopolitical uncertainty. […]
Global Precious Metals MMI: Index Rises, But Long-Term Forecasts Remain Bearish
The Global Precious Metals MMI (Monthly Metals Index) ended 2023 by breaking out of its sideways trend and rising 3.64%. However, most precious metals still lack strong bullish action. All precious metals retracted in January after experiencing rallies throughout December. Currently, precious metals prices, for the most part, lack the strength needed to break out […]
November Rally: Multiple Precious Metal Prices Soared, But Silver Stole the Show
This month, both stock indices and precious metal prices saw consistent gains week over week as conflict continues to unfold in the Middle East and Europe. With prices for Yields falling a little over 3%, reaching their lowest levels in two months, price action for stock indices recently drove markets above 7% in response to […]
Asset Freeze Issued by ArcelorMitta on Liberty Steel for €140 Million Debt
ArcelorMittal recently obtained a freeze order from a Singaporean court against Liberty Steel. The order totals €140 million ($150 million) and relates to the prospective sale of Liberty Steel assets. According to reports, the Luxembourg-headquartered group acquired a court injunction from a Singapore court on Nov. 1. That injunction prohibits Liberty from removing any assets […]
