Many metals consumers normally buy if not spot then on a three-to-six-month time horizon. Still others book up to a year out. Those that fix for longer periods often publish annual sales price lists. These companies need to fix input costs to protect margins. However, that too comes at a cost. Of course there is […]
Category: Metal Prices
Raw Steels MMI: Prices slide while capacity grows
The Raw Steels Monthly Metals Index (MMI) fell by 4.6% month over month. U.S. steel prices continue to fall, led by HRC. Plate prices moved sideways. Nonetheless, they remain beneath their peak. U.S., Japan reach Section 232 tariff agreement The U.S. and Japan reached an agreement regarding steel imports from Section 232 tariffs. Announced Feb. […]
Automotive MMI: Index drops 2% while Stellantis takes a page from the GM supplier handbook
The Automotive Monthly Metals Index (MMI) dropped by 2.5% for this month’s reading, following last month’s 3.4% decline. However, from a historical perspective, the Automotive MMI sits just off its all-time high. For nearly all of 2021, the entire automotive industry has felt pain. That pain has come in the form of high prices, lack […]
Copper MMI: The sideways trend continues
The Copper Monthly Metals Index (MMI) held flat at 119 from January to February. Copper prices continued to trade sideways within tighter and tighter ranges, with no clear short-term price direction. Nonetheless, copper prices remain bullish on longer time frames. Chilean assembly considers copper nationalization Members of an environmental committee in Chile voted for mine […]
Aluminum MMI: Tight market could get tighter
The Aluminum Monthly Metals Index (MMI) rose for the second consecutive month by 8 points to 138. Aluminum prices rebounded after a recent correction in December. Prices have begun to trade sideways. Market sentiment will soon tell whether prices rally past recent highs or see a minor correction. Ukraine-Russia tensions put market in limbo Market […]
How to Adjust a Purchase Strategy in Volatile Markets
Three phrases have dominated market headlines over the past two weeks. The phrases, ‘buy on the dips’, ‘volatility’ and ‘market correction’ have traders and market watchers all abuzz. This tends to happen when a market goes a little wonky. Most recently, market pundits bantered about these phrases over the S&P 500 market selloff. All of […]
How a potential Russian incursion can impact metals markets
Metals experts and analysts from around the world have reacted to the on-going Russia-Ukraine tension by saying any escalation would have a negative impact on global metals markets. The continued geopolitical worries have raised the possibility of new sanctions on trade with major Russian metals producers. This could further squeeze the tight aluminum, copper and […]
What we are watching: aluminum stainless and Tesla rumors
MetalMiner has long held the belief that no super-cycle exists to drive commodities prices. The argument against the super cycle suggests a lack of a 10-year sustained growth trend of new demand to support such a cycle. And despite not having a sustained growth demand cycle, metal prices remain extremely volatile due to supply constraints. […]
China steel production drops with pollution curbs
The Chinese National Bureau of Statistics has reported that China’s crude steel output fell by 3% to 1.03 billion tons in 2021a. This marks its lowest level since 2016. China remains the largest steel-producing country in the world. The production downturn brought on by curbs imposed to fight pollution, and a drop in steel prices […]
Nickel in deficit as LME inventories continue to decline
Inventory drawdown is the defining narrative at the moment, and nickel is part of the story. Economic recovery around the world is patchy. Some countries are recovering strongly, while some are still struggling. Inflation is surging and analysts are having trouble agreeing whether 2022 can see anything like 2021’s rate of growth as a result. […]