Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner, including softening steel prices, the House’s passage of the over $1 trillion infrastructure bill and more: Check if your service center is providing you with price transparency for your steel spend. Week […]
Category: Metal Prices
Global Precious MMI: MetalMiner launches precious metals suite in MetalMiner Insights
The Global Precious Monthly Metals Index (MMI) rose by 5.8% this month. MetalMiner has launched a full suite of precious metals as part of the MetalMiner Insights platform. MetalMiner launches precious metals suite in MetalMiner Insights In case you missed it, MetalMiner has launched a full suite of precious metals as part of the MetalMiner Insights platform. […]
Rare Earths MMI: Greenland parliament vote effectively halts Kvanefjeld rare earths project
The Rare Earths Monthly Metals Index (MMI) rose by 10.4% this month. Want MetalMiner directly in your inbox? Sign up for weekly updates now. Greenland parliament bans uranium mining, exploration Earlier this year, we touched on the snap elections in Greenland, where the victorious left-wing Inuit Ataqatigiit party ran in opposition to the promising Kvanefjeld […]
Construction MMI: Construction spending slips; infrastructure bill could be boon for construction sector
The Construction Monthly Metals Index (MMI) rose by 4.0% for this month’s reading. We’re offering timely emails with exclusive analyst commentary and some best practice advice. Sign up here. U.S. construction spending U.S. construction spending in September reached a seasonally adjusted annual rate of $1,573.6 billion, the Census Bureau reported. The September rate marked a decline […]
Raw Steels MMI: Steel prices, demand soften
The Raw Steels Monthly Metals Index (MMI) dropped by 2.5% month over month. Stop obsessing about the actual forecasted steel price. It’s more important to spot the trend. Auto steel demand shows weakness Steel prices appear poised for a decline in coming months as auto steel demand shows weakness and new capacity is set to […]
Copper MMI: Tight copper market sees high prices
The Copper Monthly Metals Index (MMI) rose by 3.5% for this month’s reading. Copper had a phenomenal rally since 2020 that saw LME prices ascend nearly 132% to $10,720/mt in May 2021. Since the summer of 2021, however, price action indicates some consolidation after prices tested the $10,250/mt mark earlier in October. From a technical […]
Automotive MMI: Limited inventory continues to hamper auto sales
The Automotive Monthly Metals Index (MMI) ticked up by 4.2% for this month’s reading. Make sure you are following the five best practices of sourcing aluminum. US auto sales Ford Motor Co. reported total U.S. sales of 175,918 vehicles in October. The October total sales figure marked a 4.0% year-over-year decline. Retail sales fell by 3.8% […]
Week in Review: Aluminum prices plunge; U.S., E.U. reach Section 232 deal; magnesium shortages add to supply chain woes
Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner: MetalMiner has launched a full suite of precious metals as part of the MetalMiner Insights platform. This includes a complete suite of catalytic converter precious metals, which are particularly useful […]
Could Russia’s aluminum export tax be coming to an end next month?
When news of Russia’s export tax on primary aluminum came out in the summer, it caused an increase in LME prices. More significantly, however, physical delivery premiums — such as the Midwest premium, the Rotterdam premium and the Main Japanese Port (MJP) premium — also increased. See why technical analysis is a superior forecasting methodology […]
Aluminum MMI: Following all-time high, aluminum prices plummet
The Aluminum Monthly Metals Index (MMI) fell for the first time in nine months, dropping by 1.5%. After prices hit the record peak in late October, aluminum started to face some speed bumps when the price attempted to continue to trade upward. Since Beijing’s intervention into the coal market, LME aluminum prices began to retrace […]