This month the Aluminum Monthly Metals Index (MMI) rose by 7.9%. Check if your service center is providing you with price transparency for your aluminum spend. Aluminum prices continue uptrend During November, LME aluminum prices increased by 10.9%, closing at $2,023/mt. This means that since its April low, the price recovered 38.5% and even reached […]
Category: Metal Prices
This Morning in Metals: BHP says copper output must double in 30 years; Iron ore prices set to rise; Upswing for tin demand?
Demand for copper and the move toward low-carbon economies will require that copper output double in the next 30 years, said BHP’s Tariq Salaria, vice president for sales and marketing. “Decarbonization and electrification are the main drivers for the future of metals commodities, delivering on the commitment of moves toward a low-carbon economy,” Salaria said […]
This Morning in Metals: Copper prices ease after peak; Chile sees mixed copper output; Vale targets more iron ore, safety
After peaking Tuesday, copper prices eased up Wednesday as profit-taking was spurred by a higher dollar, demand in China and upbeat news about COVID-19 vaccines, Reuters said. LME copper fell to $7,623/mt Wednesday after hitting $7,743/mt Tuesday, the highest since March 2013 and a gain of nearly 25% this year, Reuters reports. “Funds are taking […]
High demand for HRC, low availability prompt Western Europe mills to seek price hikes
HRC mills in Western Europe continue to seek higher prices for hot rolled coil on high local demand and low availability, traders told MetalMiner. End users are also trying to hedge their positions because November and December are the two months when they build up stocks before year’s end, traders said. Cut-to-length adders. Width and […]
China’s steel output set to top a billion tons this year
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, […]
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 […]