The Global Precious Monthly Metals Index (MMI) gained 1.7% for this month’s reading.
Category: Metal Prices
Rare Earths MMI: Rare earths processing facility opens in Wheat Ridge, Colorado
The Rare Earths Monthly Metals Index (MMI) rose 9.1% for this month’s reading.
Construction MMI: May construction spending drops 2.1%
The Construction Monthly Metals Index (MMI) picked up 4.2% this month.
This Morning in Metals: U.S. steel capacity utilization rate jumps again to 56.6%
This morning in metals news, the U.S. steel sector again posted another incremental rise in its steel capacity utilization rate, Freeport-McMoRan adjusted its Q2 copper sales estimates and the Airbus–Boeing tariff saga continues.
Are we in for a repeat of longer LME aluminum load-out queues, rising physical delivery premiums?
A recent Reuters article doesn’t say so in as many words but certainly suggests conditions are fertile for warehouse operators to incentivize metal deliveries again and, in the process, queues could form at exit.
Automotive MMI: U.S. auto sales begin slow recovery but remain depressed
The Automotive Monthly Metals Index (MMI) picked up by 5.1% this month. U.S. auto sales U.S. auto sales continued to slump last month and over the second quarter overall, even as the U.S. auto sector restarted production in late May after an approximately two-month suspension. General Motors reported second-quarter deliveries of 492,489 vehicles, down 34% […]
This Morning in Metals: Nevada Copper confirms restart plans for Pumpkin Hollow mine
This morning in metals news: Nevada Copper announced plans to restart its Pumpkin Hollow mine; the American Iron and Steel Institute (AISI) commented on the $1 trillion infrastructure bill approved by the U.S. House of Representatives last week; and a Florida community has approved the sale of land for the construction of a $120 million […]
Week in Review: Buying in volatile markets; Annual Outlook update; oil price drivers
Before we head into the Fourth of July weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner:
Tata Steel posts $163M quarterly loss as pandemic continues to pressure steelmakers
One of India’s biggest steel conglomerates, Tata Steel, has posted a “higher than expected” consolidated net loss during the January-March 2020 quarter of approximately U.S. $163 million. Compare this to its net profit of about U.S. $311 million reported during the same period last year and one can understand the enormity of the situation.
U.S. steel capacity utilization rate ticks up to 55.4%
The percentage of U.S. steel mills’ capacity utilization rate jumped to 55.4% for the week ending June 27, up from 54.6% for the previous week.
