The Global Precious Metals MMI (Monthly Metals Index) traded sideways month-on-month. Overall, the index fell 2.75% as numerous components lost upward price momentum. All parts of the index moved sideways or fell slightly, except for Indian silver ingots and U.S. gold bullions. Though Fed’s hawkishness has managed to impact precious metal prices in the U.S, […]
Category: Manufacturing
Is India the New China for Global Steel Production?
COVID-19, poor demand, and several other factors caused a drop in steel production worldwide the past few years. This included China, which is not only the biggest steel producer, but one with a massive impact on steel prices. Indeed, according to a report by the World Steel Association, global crude steel production, including semi-finished products, […]
Rare Earths MMI: The Rare Earths Downward Spiral Finally Flattens
After a sharp nosedive that lasted two months, the Rare Earths MMI (Monthly Metals Index) finally flattened out between May 1 and June 1. Ultimately, rare earth prices traded sideways and only moved down 1.02%. Market fears rose after news that China is experiencing another wave of COVID-19, which could impact the availability of rare […]
Raw Steels MMI: HRC Steel Prices Drop and Mill Lead Times Plummet
The Raw Steels Monthly Metals Index (MMI) remains bearish, declining 6.93% from May to June. Flat rolled steel prices returned to their bearish movement after peaking in April, while hot rolled coil prices retraced down to their March levels. Altogether, HRC prices have declined 13% from their April 14 high. Meanwhile, both cold rolled coil and […]
New Michigan Aluminum Plant to Go Live in Fall 2023
In the past, I’ve had the pleasure of interviewing associates of Hydro, a Norwegian company specializing in low-carbon and recycled aluminum products. Getting their insight into the aluminum industry provided MetalMiner and our readers with valuable industry information. For instance, we’ve learned about Russian metal sanctions, how low-carbon aluminum prices compared to those of regular […]
Teck Resources Withdraws Plan to Split Metal and Coal Businesses
Canadian mining group Teck Resources recently withdrew its proposal to separate its metals and coal companies into two separate assets. The Vancouver-headquartered company announced its plans not to proceed with a vote to divide the business into two separate companies, Teck Resources and Elk Valley Resources, at its April 26 annual and special shareholders meeting. […]
Tata Steel Trials Injecting Hydrogen Gas into Blast Furnace to Cut Carbon Emissions
India’s steel giant, Tata Steel, recently announced it had successful injected hydrogen into one of its blast furnaces. Many tout it as the world’s first such experiment by a steelmaker on so vast a scale. The goal of such a process is to potentially reduce carbon dioxide emissions by replacing up to 20% of the […]
Teck Resources Rejects Glencore’s Merger Proposal
Canadian company Teck Resources has rejected a revised offer from commodity trading and mining multinational Glencore. This follows a similar rejection of the initial offer posed earlier in April. The Vancouver-headquartered company also added that “the Teck board and management team remain fully confident that Teck’s planned separation creates a greater spectrum of value-enhancing opportunities […]
Australia on Track to Earn as Much for Lithium as Thermal Coal
Australia is on the brink of a significant accomplishment in the worldwide transition from fossil fuels to renewable energy sources. Within the next five years, the country projects it will generate as much revenue from exporting lithium, a crucial mineral in battery technology, as it presently does from thermal coal. This news is even more […]
Metal Manufacturing News: Glencore Proposes Merger with Canada’s Teck Resources
On April 3, multinational commodity trader and mining group Glencore announced its proposal for a merger with Canada’s Teck Resources. Estimates say the metal manufacturing merger could potentially create $4.25-5.25 billion of post-tax synergy value. However, Vancouver-headquartered Teck announced its rejection of the offer on the same day. “The board of directors of Teck has […]