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 […]
Category: Metal Prices
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 […]
This Morning in Metals: Nucor to build rebar micro mill
This morning in metals news: Nucor Corporation announced plans to build a rebar micro mill; oil prices fell last week; and, lastly, tin prices have rallied. Each month this year, MetalMiner has hosted a webinar on a specific metals topic. The final webinar of 2021 is this Wednesday, Dec. 8, during which MetalMiner experts will […]
Week in Review: European hot rolled coil prices slide; Alcoa announces restart; oil prices fall
Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner: Cut-to-length adders. Width and gauge adders. Coatings. Feel confident in knowing what you should be paying for metal with MetalMiner should-cost models. Week of Nov. 29-Dec. 3 (hot rolled coil prices, Alcoa […]
This Morning in Metals: Tin prices on the rise
This morning in metals news: tin prices have surged; Norsk Hydro announced the end of a previously announced battery initiative; and, lastly, Cleveland-Cliffs is buying a ferrous scrap processor. Get social with us. Follow MetalMiner on LinkedIn. Tin prices gain As we noted earlier this week, news that Indonesia is considering a tin export ban […]
Chile’s Codelco forecasts lower copper prices in 2022
Chilean copper producer Codelco, the world’s largest, indicated it could see copper prices coming down in 2022. According to a Reuters report, Codelco CEO Octavio Araneda said prices in 2022 will likely come in slightly lower than in 2021. As we’ve noted recently, MetalMiner is hosting its final webinar of the year on Wednesday, Dec. […]
Aluminum supply to get boost from Alcoa restart; Midwest premium eases
Recently, MetalMiner’s Stuart Burns delved into the aluminum market deficit, one in which limited aluminum supply and elevated delivery premiums have been persistent features. However, perhaps to some aluminum buyers’ relief, some supply is coming back online next year. Each month, MetalMiner hosts a webinar on a specific metals topic. Sign up for the last […]
This Morning in Metals: GM buys stake in electric boating company
This morning in metals news: General Motors announced it had purchased a stake in Pure Watercraft, a firm specializing in “all-electric boating solutions”; aluminum prices ticked up ahead of Thanksgiving; and, lastly, Thyssenkrupp commissioned its 35th EnviNOx® system, which reduces nitrous oxide emissions. Cut-to-length adders. Width and gauge adders. Coatings. Feel confident in knowing what […]