Human and political rights activists have been suffering escalating repression in the former Soviet state of Kazakhstan. The result has been widespread rioting and the reported death of over a hundred protestors this month. The protests kicked off with rises in liquefied petroleum gas (LPG) prices but stem from extreme inequality and corruption in the […]
Category: Metal Prices
Raw Steels MMI: As steel prices fall, steelmakers look to scrap
The Raw Steels Monthly Metals Index (MMI) rose by 12.7% month over month to 121, as scrap prices made gains this past month. U.S. steel prices continue to retreat from their 2021 peaks. At the start of the year, hot rolled coil prices sat almost 18% below the October high. US steelmakers invest in scrap […]
Renewables/GOES MMI: EIA forecasts rise in electricity generation from renewables
The Renewables Monthly Metals Index (MMI) rose by 2.9% for this month’s reading. EIA: electricity generation from renewables to rise in 2022, 2023 The Energy Information Administration forecast the U.S. share of electricity generation from renewables will rise in 2022 and 2023. “Our forecast for the natural gas share as a generation fuel declines primarily […]
Global Precious MMI: Gold prices rise; Fed continues tapering
The Global Precious Monthly Metals Index (MMI) rose by 4.1% for this month’s reading. Stay up to date on MetalMiner with weekly updates – without the sales pitch. Sign up now. Gold prices make gains to close 2021 Gold prices picked up steam throughout the final month of 2021. The U.S. gold spot price opened December […]
Environment driving BHP’s investments in nickel
Nickel, traditionally largely consumed in the stainless steel industry, is enjoying strong support from its role as a lithium-ion battery enhancing metal. The use of nickel reduces the need for cobalt, significantly battery reducing costs. Not surprisingly car makers are scrambling to lock up supplies as Chinese battery firms get first to market investing in […]
Rare Earths MMI: China merger forms rare earths giant
The Rare Earths Monthly Metals Index (MMI) rose by 1.7% for this month’s reading. We’re offering timely emails with exclusive analyst commentary and some best practice advice. Sign up here. China consolidates trio of rare earths units As Beijing has sought to control its domestic metals production in the form of state-directed company consolidation, it has […]
Copper MMI: Sideways trend persists, Fed fosters bearish sentiment
The Copper Monthly Metals Index (MMI) rose 0.8% for this month’s reading. Copper prices continue to trade sideways within a big time frame, a resistance and support channel. While prices have consolidated within the channel, there are certain points of interest marked as key levels that would indicate a macro bullish continuation or macro reversal […]
Stainless MMI: Tariff exclusion could lead to more capacity
The Stainless Monthly Metals Index (MMI) rose by 1.8% month over month. Although nickel edged up slowly in price, it squeezed into a wedge that is susceptible to big time frame resistance. Prices continue to consolidate within an October-November 2021 high-low price range. A continuation to the upside with more volume from the bulls could […]
Aluminum MMI: Energy crisis hits production, buoys prices
The Aluminum Monthly Metals Index (MMI) rose 4.8% following two consecutive months of decline. After a sharp 7.6% drop in the early days of November, prices appeared to have found a bottom and formed a bullish “cup and handle” technical pattern around the summer support levels. Aluminum prices have broken out of the bullish pattern […]
Automotive MMI: Toyota edges GM in 2021 US auto sales
The Automotive Monthly Metals Index (MMI) fell by 3.4% for this month’s reading, as auto sales continued to slump in the face of ongoing supply and inventory constraints. Stay up to date on MetalMiner with weekly updates – without the sales pitch. Sign up now. US auto sales In the U.S. market, General Motors reported […]