The Rare Earths Monthly Metals Index (MMI) surged by 30.6% for this month’s reading, as this week a pair of House representatives — a Democrat and Republican — introduced legislation that proposed a tax credit for domestic production of rare earth magnets. The MetalMiner Best Practice Library offers a wealth of knowledge and tips to […]
Category: Metal Prices
Stainless MMI: Strong stainless demand to continue into 2022
The Stainless Monthly Metals Index (MMI) increased by 8.2% for this month’s reading. Stop obsessing about the actual forecasted nickel price — it’s more important to spot the trend. Outokumpu demand outlook Stainless steel producer Outokumpu released its half-year report, reporting that their sales increased by 16.8% for the first half of 2021 compared to […]
Raw Steels MMI: Steel demand on the rise
The Raw Steels Monthly Metals Index (MMI) rose by 7.8% as U.S. and Chinese steel prices continued their rally. Volatility is the name of the game. Do you have a steel buying strategy that can handle the ups and downs? Executive order on zero emissions, electric vehicles On Thursday, Aug. 5, President Joe Biden’s office […]
Aluminum MMI: Prices almost reach decade high
The Aluminum Monthly Metals Index (MMI) increased by 7.0%. Prices remain historically high, with Chinese prices increasing the most this month. Throughout July, LME aluminum traded mostly sideways until the last few days of the month when the price spiked. LME prices reached $2,619/mt on Aug. 1. Prices are close to the decade high of […]
Construction MMI: Architecture Billings Index remains near record high, construction spending rises in June
The Construction Monthly Metals Index (MMI) rose by 8.9% for this month’s MMI reading, as June construction spending rose slightly from the previous month. Each month, MetalMiner hosts a webinar on a specific metals topic. Explore the upcoming webinars and sign up for each on the MetalMiner Events page. Construction spending ticks up in June […]
COMEX-LME copper arbitrage tells a story
After a barnstorming first quarter, the copper price appears to be bucking the wider bull market narrative by trading sideways in the second quarter. Yet there remains a strange disconnect between COMEX and the North American market and the LME and rest of the world. Receive the latest short-term and long-term outlook for the full […]
This Morning in Metals: Rio Tinto, Komatsu collaborate on zero-emission mining haulage solutions
This morning in metals news: Rio Tinto announced it is working with Komatsu to develop zero-emission mining haulage solutions; meanwhile, Norsk Hydro announced new investments in North America; and, lastly, U.S. steel prices continue to rise, although the pace of gains has slowed somewhat. You want more MetalMiner on your terms. Sign up for weekly […]
ICSG: Copper market in surplus through first four months of 2021
With all eyes on the labor situation at BHP’s Escondida copper mine — the world’s largest copper mine — global copper supply could get a lot tighter if the situation leads to a prolonged strike. In 2017, workers at the mine engaged in a 44-day strike. However, at least through the first four months of […]
China aims to further reduce steel output
The world’s largest steel producer and exporter, China, is actively contemplating adding more curbs to halt environment pollution which, most likely, will reduce its steel output and dampen exports. That’s good news for some of China’s neighbors steel-producing rivals, India and Japan. Stop obsessing about the actual forecasted steel price. It’s more important to spot […]
Week in Review: Stainless demand; global crude steel production; tin prices
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, including stainless demand, a drop in global crude steel production and much more: We know what you should be paying for metals — MetalMiner should-cost models are the ultimate savings […]