The Copper Monthly Metals Index (MMI) moved sideways, increasing by a modest 1.09% from June to July. Copper prices appear sideways after last month’s rally faltered. After June 22, prices began to retrace, but found a bottom by the end of the month. They then enjoyed a modest rise during the first week of July. […]
Category: Metal Pricing
Boliden’s Tara Zinc Mine on Hold Due to Dwindling Profits, Escalating Expenses
Plummeting zinc metal prices and rising energy costs recently prompted Boliden to place its Tara zinc mine on care and maintenance until further notice. “The business is currently cash flow negative due to a combination of factors,” the Swedish metals producer said. Officials went on to specify that these operational challenges included “a decline in […]
Rare Earths MMI: Rare Earth Race Continues Between U.S. and China
The Rare Earths MMI (Monthly Metals Index) saw little change month-on-month. Overall, the index continued its sideways trend, dropping a slight 2.5%. Rare earth carbonate saw the largest price shift between June 1 and July 1, dipping 10.59%. Still, as a whole, the index continues to trend in stark difference to the sharp price drops […]
Metal Prices: Hot-Rolled Coil Trends Down, Nickel Appears Bearish
Metal prices demonstrated increasingly-bearish short-term movement over the past couple of weeks. HRC, for instance, continues to trend downward while nickel faces extensive bearish pressure. But while prices may continue to decline in the short-term, will the long-term trend continue? Nickel in a Bearish Market Nickel prices fell more than 20% in the first three […]
Global Precious Metal MMI: Precious Metal Prices Losing Momentum
The Global Precious Metals MMI (Monthly Metals Index) traded sideways month-on-month. Overall, the index fell 2.75% as numerous components lost upward price momentum. All parts of the index moved sideways or fell slightly, except for Indian silver ingots and U.S. gold bullions. Though Fed’s hawkishness has managed to impact precious metal prices in the U.S, […]
Copper MMI: Will the Copper Price Rally Last?
The Copper Monthly Metals Index (MMI) fell 4.29% from May to June as the average copper price continued to show short term volatility. Copper prices ultimately rebounded after declining in May. After the start of the month, the copper price index started forming short-term patterns that showed potential upside reversal. However, price action would need […]
Renewables/GOES MMI: Index Rises Slightly, U.S. Short on EV Charging Stations
The Renewables MMI (Monthly Metals Index) continued to edge sideways, this time rising by just 2.64%. Cobalt and neodymium rising in price contributed the most to the index’s upward movement. This occurred despite massive oversupplies of cobalt, which is crucial to utilizing renewable energy sources like EV batteries. Meanwhile, grain-oriented electrical steel dropped month-over-month, with […]
Construction MMI: Canadian Wildfire Smoke Puts a Halt on NYC Construction
The Construction MMI (Monthly Metals Index) stayed within a tight range, but dropped more than in the previous three months. Overall, the index fell by 5.04% month-on-month. Meanwhile, steel prices continued to slide, which brought noticeable bearish pressure to the index. However, within the first couple weeks of June, H-beam steel and steel rebar prices […]
Automotive MMI: Index Slides, High Car Costs Impede Buyers
The Automotive MMI (Monthly Metals Index) broke its sideways trend this past month, inching down 3.36%. Though all components of the index fell, hot-dipped galvanized steel experienced a particularly noticeable price drop, as did several other steel types.This could indicate a trend reversal. However, consumer purchasing must rise in order for a reversal to happen, […]
Rare Earths MMI: The Rare Earths Downward Spiral Finally Flattens
After a sharp nosedive that lasted two months, the Rare Earths MMI (Monthly Metals Index) finally flattened out between May 1 and June 1. Ultimately, rare earth prices traded sideways and only moved down 1.02%. Market fears rose after news that China is experiencing another wave of COVID-19, which could impact the availability of rare […]
