This morning in metals news: the United States International Trade Commission asked for an additional $2.75 million in its budget to help it toward implementation of the United States-Mexico-Canada Agreement (USMCA); the World Gold Council released its H1 2020 report; and U.S. beverage makers are grappling with an aluminum can shortage.
Category: Metal Prices
China may be doing the heavy lifting for metals price support — but the legs are looking shaky
True to form, if not to scale, Beijing resorted to infrastructure spending this quarter to support the economy as it sought to pull the country out of government-imposed lockdowns in the first quarter.
Stainless MMI: LME nickel prices contradict market fundamentals
The Stainless Monthly Metals Index (MMI) increased by 3% this month after holding flat for two consecutive months.
Raw Steels MMI: U.S. market still has a steep curve ahead
The Raw Steels Monthly Metals Index (MMI) increased 1.5% for this month’s MMI reading.
Renewables/GOES MMI: Tesla’s cobalt supply deal; UT-Austin research team releases findings on cobalt-free battery
The Renewables Monthly Metals Index (MMI) gained 2.1% this month. (Editor’s Note: This report also includes coverage of grain-oriented electrical steel.)
LME now reporting off-warrant stock … what does it mean for the market?
Despite being in the works for months prior to the onset of the pandemic, the LME’s program of reporting warehouse inventory in “near storage” — meaning in LME warehouses but not on warrant — could hardly have been more timely as a fierce, if temporary, recessionary situation hit metals markets this year.
This Morning in Metals: Rio Tinto to close New Zealand Aluminum Smelters
This morning in metals news: Rio Tinto announced it will wind down operations and eventually close its New Zealand Aluminum Smelters; copper prices are surging; and the Pilbara Ports Authority reported June shipping data.
Aluminum MMI: Aluminum price makes gains, index rises 6.7%
The Aluminum Monthly Metals Index (MMI) increased by nearly 6.7% for this month’s MMI reading.
This Morning in Metals: U.S. steel shipments down 32.9% in May
This morning in metals news: U.S. steel shipments fell 32.9% in May; a Chilean lab is using copper in the fight against COVID-19; and some stores are feeling the effect of an aluminum can shortage.
Copper MMI: Will the copper price continue in its V-shaped recovery?
The Copper Monthly Metals Index (MMI) increased by 8.8% for this month’s MMI reading as copper prices continue to increase globally.
