If we were worried about China’s dominance of global steel output over the last decade, the next decade is looking like it may be even worse. Having bounced back robustly this year from severe coronavirus lockdowns in Q1, China is on track to top 1 billion tons of steel production by the end of 2020, […]
Category: Metal Prices
This Morning in Metals: Copper prices hit 7-year peak; U.S. factories grow, but slower; U.S. construction spending rises
On Tuesday, copper prices hit their highest point since 2013, driven by fast-expanding manufacturing activity in Europe and China — as well as by news that viable coronavirus vaccines are coming, Reuters reports. Benchmark copper on the London Metal Exchange (LME) peaked today at $7,723/mt before lowering to around $7,715.50/mt., said Reuters, which reported that […]
This Morning in Metals: Gold signals changes in COVID era; China manufacturing expands; GM curbs deal with start-up Nikola
. Gold signals changes in COVID climate Two developments with gold signal changes in the coronavirus era, according to Reuters. Gold prices are coming down on news of possible COVID-19 vaccines, and gold futures in the U.S. are seeing lower costs for rolling over those contracts, an indication that trading may be normalizing amid the […]
Copper bull run continues
I am sure China didn’t intend to launch its new copper contract in the midst of so much speculative activity, but the maelstrom of investor interest in the copper market and the copper bull run at present certainly won’t harm volumes following the contract launch last week. You want more MetalMiner on your terms. Sign […]
Happy Thanksgiving from the MetalMiner team
While you may be busy putting the finishing touches on your Thanksgiving spread and, subsequently, taking a turkey-induced nap, you might find some time to revisit this week’s coverage, including industrial production figures, aluminum analysis and much more: October industrial production rose, per the Federal Reserve. LME aluminum prices continue to rise. The United States […]
This Morning in Metals: Norsk Hydro begins production restarts at Husnes B-line
This morning in metals news: Norsk Hydro recently resumed production at its Husnes aluminum plant; the Census Bureau recently released the latest data on new housing starts; and copper prices continue to rise. Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more. Norsk Hydro resumes production at Husnes B-line Oslo-based […]
Global aluminum market in surplus, paced by rising Chinese production
As the World Bureau of Metal Statistics (WBMS) will tell you, the global aluminum market reached a surplus of 1,603 kt in the January to September 2020 period. That tripled the surplus of 480 kt recorded for the whole of 2019. Do you know the five best practices of sourcing metals, including aluminum? Global aluminum […]
World Platinum Investment Council releases bullish 2021 platinum report
The World Platinum Investment Council (WPIC) released a report this month with a bullish view of the platinum market in 2021. The WPIC is bullish on the basis of stronger investment demand and restricted production in South Africa. Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more. Platinum in deficit […]
This Morning in Metals: Steel capacity utilization rate reaches 71.5%
This morning in metals news: the U.S. steel capacity utilization rate reached 71.5% last week; the Energy Information released its monthly energy review; and the nickel price continues to move upward. We’re offering timely emails with exclusive analyst commentary and some best practice advice. Sign up today. Steel capacity utilization rate hits 71.5% The U.S. […]
Copper in deficit as prices continue long-term surge
Earlier today we touched on aluminum prices — well, the copper price is similarly ascendant. The copper price has, as we’ve mentioned on multiple occasions, been supported by a recovering Chinese economy. Furthermore, according to data released Monday by the International Copper Study Group (ICSG), global copper production declined over the first eight months of […]