Copper seems to be a one-way bet the last six months. The copper price has risen from a low of $4,371 per metric ton in March last year to $8,631 per metric ton Friday on the LME. According to Reuters, Goldman Sachs and Citi are doubling down on their bull calls for the copper market. […]
Category: Metal Prices
Week in Review: Aluminum industry going greener; rare earths chess game; nickel, stainless dynamics
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 the aluminum industry and its efforts to curb emissions, China’s latest foray in the global rare earths chess game and much more: You want more MetalMiner on your terms. […]
Investment banks signal possible start of a commodities super cycle
Investment banks love a super cycle. It spurs irrational investment and sucks in unwary investors. Furthermore, it encourages passive funds to up their allocation, even if only by fractions of a percent. But with some $14 trillion invested in US equities alone, even a modest increase in passive investments into ETFs would reap significant rewards […]
Nucor forecasts Q1 2021 net earnings to best 2008 record
While the first half of 2020 posed significant challenges for metals manufacturers and end users alike, some firms have showed signs of recovery in the ensuing months and into 2021. In the second quarter, steel demand suffered. Automotive manufacturers idled production in North America for a period of about two months last year, beginning in […]
This Morning in Metals: Novelis unveils high-strength automotive aluminum
This morning in metals news: Novelis announced the commercial availability of a new class of high-strength automotive aluminum; meanwhile, the United States Geological Survey updated its Mineral Deposit Database for niobium; and the global aluminum market surplus more than tripled from 2019 to 2020. Novelis announces new high-strength automotive aluminum Atlanta-based Novelis today announced it […]
This Morning in Metals: February 2021 MMI report is out
This morning in metals news: the February 2021 Monthly Metals Index (MMI) report is out; meanwhile, US steel capacity utilization reached 76.9%; and, lastly, Rusal recently announced the acquisition of a German aluminum producer. February 2021 MMI report As regular readers know, we have published all 10 of our Monthly Metals Index (MMI) articles over […]
Nickel Continues to Keep Stainless Prices Up, even as LME stocks rise
Stainless steel producers have been caught in a pincer movement over the last year of rising nickel prices but falling demand. It is a counterintuitive situation until you factor in China’s stainless production. Chinese output rose by 4% in the third quarter of last year compared to the rest of the world, which fell by […]
This Morning in Metals: Copper price surges after January cooldown
This morning in metals news: the copper price is on its way back up again; meanwhile, Rio Tinto reached a new power agreement for its ISAL aluminum smelter; and, lastly, oil prices continue to rise. Copper price surges After a sleepy January, copper prices are back on the ascent. The LME three-month copper price closed […]
Week in Review: Biden administration reimposes UAE tariff; copper demand; stainless steel price hikes
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 the Biden administration reimposing a tariff on aluminum from the UAE, copper demand and much more. The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers […]
Stainless MMI: Base prices, surcharges continue to increase
The Stainless Monthly Metals Index (MMI) increased by 4.5%, as stainless flat rolled base prices continue to move upward due to extended lead times and limited domestic capacity (following a similar trend with steel prices). Stainless steel producers raise prices Stainless steel producers North American Stainless (NAS) and Outokumpu announced price increases effective for February […]