The Automotive Monthly Metals Index (MMI) held flat this month, posting a reading of 86 for the December MMI. Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today! U.S. auto sales As noted previously, General Motors, Ford and Fiat Chrysler all report sales on a quarterly basis. As […]
Category: Metal Prices
This Morning in Metals: U.S. steel prices gain momentum
This morning in metals news, U.S. steel prices have gained some upward momentum over the last month, the U.S. and Mexico are reportedly drawing closer to an agreement over revisions to the United States-Mexico-Canada Agreement (USMCA), and U.S. steel import permit applications declined in November. Looking for metal price forecasting and data analysis in one […]
Stainless MMI: Significant nickel price correction leads to a thirteen-point drop
The Stainless Steel Monthly Metals Index (MMI) dropped again this month, by thirteen points to 74, the third and largest consecutive monthly drop, with nickel prices correcting significantly. LME nickel prices finally corrected, now back to levels last seen in late July. While prices held on to higher levels for a few months based on […]
Week in Review: Steel production, the December MMO and gold prices
Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner: Keep up to date on everything going on in the world of trade and tariffs via MetalMiner’s Trade Resource Center. Global steel production contracted in October, according to the World […]
Copper MMI: Uncertain Demand Outlook Holds Back Index Gains
The Copper Monthly Metals Index (MMI) held at last month’s value of 73 based on November price data. LME copper prices took a sideways turn during November as uncertainty over the strength of the global economy continued to constrain copper prices. Source: MetalMiner analysis of London Metal Exchange (LME) and FastMarkets. The price continued to […]
Nickel not joining in the Christmas cheer
We observed last month that the peak had passed in nickel prices and earlier suggestions from some quarters that nickel may hit $20,000 per ton were highly unlikely. Any stainless consumers taking that on board and living hand to mouth will have seen surcharges come down and should have been able to trim stocks in […]
Aluminum MMI: Index near three-year low; demand remains constrained
The Aluminum Monthly Metals Index (MMI) held relatively flat this month, with a one-point increase to 83, as the majority of prices in the index showed mild increases. LME aluminum prices generally moved sideways during November and were unable to generate strong upward price momentum due to slower recent economic growth rates and uncertainty over […]
Long-term negative correlation between the dollar, gold prices takes a break
Gold prices surged this year due to greater uncertainty in the global macroeconomic environment. By August, the price briefly regained the $1,500/ounce price point and stood at $1,460/ounce in late November. Keep up to date on everything going on in the world of trade and tariffs via MetalMiner’s Trade Resource Center. Over the longer term, […]
The December MMO Report: Looking ahead to the final month of 2019
MetalMiner’s December 2019 Monthly Metal Buying Outlook is in the books. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook The Monthly Metal Buying Outlook, released at the beginning of every month, offers analysis and buying strategies for 10 metals: Aluminum Copper Nickel Lead Zinc Tin Hot-Rolled Coil (HRC) Cold-Rolled Coil […]
Global aluminum production rises in October; China’s production hits 3M tons
Global aluminum production in October totaled 5.39 million tons, according to a recent report by the International Aluminum Institute. Keep up to date on everything going on in the world of trade and tariffs via MetalMiner’s Trade Resource Center. Global production through the first 10 months of the year reached 53.04 million tons, down 0.9% […]