The Copper MMI (Monthly Metals Index) increased one point in May. Stronger LME copper prices led the increase. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook LME copper prices recovered previous price momentum and increased in April. At the beginning of last month, LME copper prices fell. At this point, buying […]
Category: Metal Prices
This Morning in Metals: China Iron Ore Futures Rise
This morning in metals news, China iron ore futures were up Monday, the chief executive of Japan’s LIXIL Group expressed concern about aluminum price volatility, and a new study measures the economic effect of a potential U.S. withdrawal from the North American Free Trade Agreement (NAFTA). Need buying strategies for steel? Try two free months […]
Construction MMI: March Spending Up Year Over Year But Down 1.7% From February
The Construction Monthly Metals Index (MMI) increased four points, up to 95 for our May MMI reading. Within the basket of metals, Chinese rebar was down slightly on the month, while Chinese H-beam steel jumped 5.4%. U.S. shredded scrap steel rose 3.0%. European aluminum sheet jumped 4.9%. Chinese aluminum bar jumped 8.2%. Need buying strategies for steel? Try […]
This Morning in Metals: Temporary Section 232 Tariff Exemptions Extended
This morning in metals news, several countries received good news ahead of the midnight deadline for the expiration of Section 232 tariff exemptions, Canada argues the steel tariff would hurt American jobs and LME copper falls to a three-week low. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook Countries Breathe a […]
Nickel Fundamentals Come Back to the Fore
As my colleague Fouad Egbaria wrote last week, the U.S. administration’s relaxation of the timescale for implementation of sanctions against Rusal has had the effect of taking the panic out of the market. As a result, prices have fallen for several days, not just for aluminum but for other metals that the market feared could […]
Week in Review: Price Movements, Indian Exports and Section 232 Exemptions
Before we head into the weekend, let’s take a look back at the week that was with some of this week’s stories here on MetalMiner: Need buying strategies for steel? Try two free months of MetalMiner’s Outlook What’s going on with steel prices? Have they neared a top? MetalMiner’s Irene Martinez Canorea offered her analysis […]
LME Nickel Follows Aluminum in Price Slide
MetalMiner’s Stuart Burns touched on the rapid swing back downward for the aluminum price, which surged on news of U.S. sanctions on Russian oligarchs and companies but quickly dropped when the U.S. Treasury opened the door to potential easing of sanctions. Buying Aluminum in 2018? Download MetalMiner’s free annual price outlook But aluminum wasn’t the […]
Aluminum Prices Drop Sharply This Week After Announcement on Potential Easing of Sanctions
What goes up must come down, goes the old adage. Buying Aluminum in 2018? Download MetalMiner’s free annual price outlook Although that adage does not always hold true, it has for aluminum this week following a change of tone from Washington. According to the Financial Times, the U.S. Treasury made two important announcements this week, […]
This Morning in Metals: Chinese Steel Futures Up on Dropping Inventories
This morning in metals news, Chinese steel futures have hit a 1.5-month peak, Mexico is optimistic about reaching a deal on the North American Free Trade Agreement (NAFTA) and miner Freeport-McMoran posted a down quarter. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook Chinese Steel Futures Rise Chinese steel futures are […]
Aluminum Consumers Pose a Not-Unreasonable Question: How High Can Prices Go?
Higher is the simple answer. The world with the exception of China was in deficit before U.S. sanctions against Oleg Derispaska and his aluminum company Rusal. So when the three million tons of primary metal Rusal exports outside of Russia are taken out of a market already worried by the recent partial closure of Norsk […]