The MetalMiner team has broken down the significant fluctuations in the LME nickel contract this month. But now that a few weeks have passed since the LME first suspended trading, it’s time to take a look at some other interesting trends at play on the LME and elsewhere. In this question-and-answer session, MetalMiner’s Stuart Burns […]
Category: Metal Prices
Hot rolled coil prices are increasing in Western Europe.
Hot rolled coil prices in Western Europe have continued to rise. Insecurity of supply for the flat rolled material and the European Union’s blockage of certain steel imports from Russia are pushing prices upward, market sources told MetalMiner. In addition to other forms of steel, the MetalMiner Insights platform includes hot rolled coil prices from […]
Shelling severely damages Azovstal coking plant
Shelling on Metinvest’s longs and flats producer Azovstal has destroyed its ability to operate, local reports and a plant official stated. The plant is in the besieged Ukrainian city of Mariupol. Damage to the site remains unclear at present, sources told MetalMiner. Metinvest officials outside of Ukraine also did not indicate the degree of damage. […]
LME nickel hits the buffers again
You must wonder what would have happened if the LME had left the nickel market alone — after nickel prices embarked on a meteoric rise March 7 — and allowed the short covering price spike to work out. Yes, the shorts would have been badly burned. That would have included not just Tsingshan Holding Group […]
Aluminum prices remain high, tightness persists — who could step in to fill the gap?
Yesterday, our Stuart Burns took a look at the aluminum market and aluminum prices, including Australia’s move to ban exports of alumina to Russia. Australia’s decision to halt exports of alumina to Russia is likely to further strangle Russia’s aluminum production. As such, it will add to an already desperate situation on the global aluminum […]
Aluminum prices back on the rise as Australia bans alumina exports to Russia
After spiking dramatically following Russia’s invasion of Ukraine, aluminum prices eased back from highs of over $3,500 per metric ton on the LME to around $3,300. The market played a game of wait-and-see over a potential negotiated outcome to the conflict and to better judge just how bad the squeeze on aluminum supply would be. […]
Palladium prices finally come down after rallying on supply fears
After registering a record high earlier this month, palladium prices dropped about 17% early last week. Palladium prices had a sharp correction, as worries over shortage in its supply from major producer Russia came down several notches. Russia accounts for 40% of global palladium mine production. Palladium is a crucial component in automobile catalysts. Russia […]
The LME nickel price debacle continues
Well, if you thought the London Metal Exchange’s unprecedented suspension of trading last week took the steam out of the nickel market and nickel prices, and that the world would revert to orderly conduct Wednesday when the LME resumed trading, you would have been wrong. Nickel price chaos The LME had set trading limits of […]
MetalMiner CEO Lisa Reisman talks metal prices, LME nickel chaos and more with BNN Bloomberg
The last month has been a frenetic one in the world of metals and metal prices. In recent weeks, we’ve covered the ramifications of Russia’s invasion of Ukraine, reviewed the fallout of the London Metal Exchange’s decision to suspend nickel trading and covered developments spanning metal markets in our March 2022 Monthly Metal Index (MMI) […]
Amid rising European steel prices, EU bans imports of Russian steel subject to safeguard measures
We continue to monitor the impact of the Russian invasion of Ukraine on steel prices (and other commodities). In that vein, on March 15 the European Commission, the executive body for the European Union, implemented an import ban against Russian steel products currently subject to safeguard measures. EU moves forward with steel import ban The […]
