The Raw Steels Monthly Metals Index (MMI) increased for the ninth consecutive month, rising by 0.5% as US steel prices continued to rise. Buying organizations should continue to buy as needed, as prices remain at all-time highs. Cut-to-length adders. Width and gauge adders. Coatings. Feel confident in knowing what you should be paying for metal […]
Category: Metal Prices
This Morning in Metals: Coalition of American Metal Manufacturers and Users calls for end to Section 232 tariffs
This morning in metals news: the Coalition of American Metal Manufacturers and Users called on the Biden administration to rescind the Section 232 steel and aluminum tariffs; meanwhile, the Energy Information Administration forecasts US energy-related CO2 emissions to rise after the mid-2030s; and, lastly, US President Joe Biden spoke this week with Chinese President Xi […]
Global Precious MMI: Global silver demand to rise in 2021
The Global Precious Monthly Metals Index (MMI) fell 2.1% for this month’s value, as global silver demand will likely see a surge this year. Silver lining Gold gets most of the shine in the precious metals sector, but silver is also worth monitoring. Recently, retail traders, seemingly influenced by the Reddit-inspired run on GameStop, took […]
This Morning in Metals: December steel shipments jump 4.4%
This morning in metals news: December steel shipments rose by 4.4%; meanwhile, miner BHP announced plans to work with Japanese steelmaker JFE to study how to reduce greenhouse gas emissions from the steelmaking process; and, lastly, the copper price has bounced back after a January lull. Steel shipments rise in December US steel shipments rose […]
Rare Earths MMI: China mulling stricter rare earths regulations
The Rare Earths Monthly Metals Index (MMI) surged by 20.5% this month, as last month China indicated it is mulling stricter rare earths regulations. China to consider stricter rare earths regulations As nations and businesses around the world make pledges to commit to net-zero emissions targets, demand for rare earths will only increase. Rare earths, […]
Tin market in a squeeze as supply is hard to find
We have said it before, but we are not great fans of using stock levels as a predictor of price trends or even as a proxy for wider physical market metal availability — however, in the case of the tin market, LME stock position is the surest illustration of a market under extreme duress. Tin […]
Copper MMI: Copper demand likely to remain strong well into 2021
The Copper Monthly Metals Index (MMI) increased for the fourth consecutive month, rising by 1.1%, as copper demand is likely to remain strong this year. Copper prices traded sideways throughout January, which proved to be a slow month for the red metal. Most of its momentum over the past year came from China, which has […]
This Morning in Metals: EIA forecasts renewables share of US electricity generation to double by 2050
This morning in metals news: the Energy Information Administration forecast the renewables share of US electricity generation will double by 2050; meanwhile, the US unemployment rate fell to 6.3% in January; and, lastly, the tin price has bucked the recent general trend for base metals prices. EIA: renewables share of electricity generation to double by […]
Aluminum MMI: US reinstates tariff on aluminum imported from UAE
The Aluminum Monthly Metals Index (MMI) increased by 2.1% this month, as LME aluminum prices traded sideways and the US reinstated the Section 232 aluminum tariff on imports from the United Arab Emirates. U.S. aluminum reinstates aluminum tariff on UAE On Feb. 1, President Joe Biden reinstated the 10% aluminum tariff on imports from the […]
Week in Review: Copper retraces; USCIT rules on Section 232 steel tariff; Vale reaches $7B settlement
Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner, from steadier metals prices to the United States Court of International Trade’s recent ruling related to a Section 232 steel tariff challenge. Furthermore, Brazilian miner Vale reached a massive settlement two years […]