The Rare Earths Monthly Metals Index (MMI) rose by 11.3% for this month’s reading. You want more MetalMiner on your terms. Sign up for weekly email updates here. GM, MP Materials to collaborate on rare earths magnet supply chain General Motors announced it will collaborate with MP Materials to develop a “fully integrated” U.S. supply chain […]
Category: Metal Prices
Aluminum price moves sideways but looks to China for cues
The medium term future for the aluminum price depends on China. How many times have we heard that before? Not just for aluminum but for a host of other base metals, too. But the reality is China is running a deficit and sucking in metal from the rest of the world, where demand is already […]
This Morning in Metals: GM to invest $51M in Indiana aluminum die casting foundry
This morning in metals news: General Motors will invest $51 million to install equipment at its Bedford, Indiana aluminum casting die foundry; nickel prices have gained this past month; and, lastly, the U.K. trade minister reportedly told the U.S. they could consider expanding tariffs on U.S. goods if the U.S. does not remove the Section […]
Stainless MMI: Stainless steel market tight, nickel shows volatility
The Stainless Monthly Metals Index (MMI) held flat this month, while the stainless steel market is tight. Nickel prices appear to have consolidated following the late November spike. As with other base metals, nickel has started to show a high degree of volatility and uncertainty that would suggest a breakout of the current trading range […]
Copper MMI: Copper prices consolidate after October spike
The Copper Monthly Metals Index (MMI) held flat for this month’s reading. After the mid-October spike, copper prices have begun to consolidate. Any bullish technical patterns are at risk of invalidation, as prices appear to trade consistently lower. Additionally, its failure to break out of any bullish structures within smaller time frames suggests a weakness […]
This Morning in Metals: Winter weather to further strain energy supplies in Europe
This morning in metals news: a cold winter season will continue to put strain on European energy supplies; the U.S. international trade deficit declined from September to October; and, lastly, U.S. job openings increased in October. Does your company have a zinc buying strategy based on current zinc price trends? Energy prices under the microscope […]
Aluminum MMI: Aluminum prices move sideways, production to increase
The Aluminum Monthly Metals Index (MMI) fell for the second consecutive month, this month dropping by 3.9% as aluminum prices trended sideways. After a sharp 7.6% drop in the early days of November, aluminum prices appeared to have found a bottom. Prices then traded sideways at summer support levels. Currently, aluminum is in a period […]
This Morning in Metals: Steel capacity utilization dips to 81.9%, steel prices down
This morning in metals news: steel capacity utilization fell to 81.9%; lead prices have lost ground this month; and, lastly, Liberty Steel announced the restart of its Georgetown, South Carolina plant. During the last MetalMiner webinar of 2021, the MetalMiner team will take a look ahead and overview price predictions for 2022. To attend, sign […]
Construction MMI: YTD construction spending up 7.5%; Nucor to build new rebar micro mill
The Construction Monthly Metals Index (MMI) fell by 6.1% for this month’s reading, as U.S. construction spending rose by 7.5% year over year in the first 10 months of the year. MetalMiner is hosting its final webinar of the calendar year tomorrow — Wednesday, Dec. 8 — during which the MetalMiner team will overview price predictions […]
Automotive MMI: Automotive sales remain constrained by limited supply
The Automotive Monthly Metals Index (MMI) dropped by 0.7% for this month’s reading. Stay up to date on MetalMiner with weekly updates – without the sales pitch. US auto sales Ford Motor Co. reported November U.S. sales increased by 5.9% year over year to 158,793 vehicles. Total truck sales increased by 4.6%. Meanwhile, SUV sales […]