This morning in metals news: aluminum prices have surged this week; U.S. nonfarm payroll employment rose by 199,000 in December; and, lastly, electricity prices surged throughout 2021, in large part on the back of rising natural gas prices. Request a 30-minute demo of the MetalMiner Insights platform now. Aluminum prices surge Aluminum prices are on […]
Category: Metal Pricing
Power crisis in China drives aluminum alloy prices higher, threatening supplies
A timely post by the Financial Times covers the threat to the global auto industry as a result of the power crisis in China limiting supplies of key components used across a range of industries. But specific to the post is the making of aluminum alloys. Almost 90% of the world’s magnesium production comes from […]
Industrial metals prices performing well
Industrial metals have done rather well in bouncing back from the coronavirus pandemic lockdowns. Classic fundamentals have been supported by rising sentiment to boost prices across the board. Mine supply has been constrained by governments forcing companies to close mine sites and refineries in a bid to contain the spread of the virus resulting in […]
The nickel market is set for major disruption
There is a looming crisis in the nickel market. Some would argue it’s a good problem to have. Demand is set to rise on the back of increasing uptake of electric and hybrid vehicles through this decade. More and more governments will mandate the production of electric vehicles (EVs) over internal combustion engine (ICE) autos. […]
Stainless MMI: Index down as weak demand impacts global prices
The Stainless Steel Monthly Metals Index (MMI) declined by three points this month to 67, following a five-point decline last month. LME nickel prices continued to slide as global markets reacted to production delays due to coronavirus, which weakened demand and prices.
This Morning in Metals: Copper prices slide amid coronavirus fears
This morning in metals news, copper prices have been sliding amid growing fears over the spread of the coronavirus in China, laminated steel manufactured by Tata Steel in the Netherlands has been exempted from U.S. tariffs and China’s Jingye is reportedly considering building a new metals recycling furnace in the U.K. Looking for metal price […]
Automotive MMI: U.S. Sales Slide in July as Transaction Prices Rise
The Automotive Monthly Metals Index (MMI) fell one point this month for an August reading of 86. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook U.S. Auto Sales Nissan reported July sales in the U.S. of 98,880 units, down 9.1% on a year-over-year basis. Honda’s sales ticked up 1.9% to 141,296 […]
This Morning in Metals: Copper is Getting a Jolt from the EV Sector
This morning in metals news, U.S. copper deposits are garnering investment from electric vehicle (EV) industry players, London copper rose Friday and the E.U. mulls retaliation if the U.S. imposes tariffs on automobiles. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Copper Investment The copper price struggled through the final […]
Tariffs Lift Prices But Capacity Utilization Remains an Issue
Even if U.S. steelmakers have been slow to add capacity following President Trump’s tariff protection, it would seem foreign steel makers are willing to commit to domestic U.S. production. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook The Financial Times this week reported on the announcement by BlueScope Steel, Australia’s biggest […]
Renewables MMI: BHP Billiton Looks to Increase Cobalt Sulphide Production
The Renewables Monthly Metals Index (MMI) dropped three points for an August MMI reading of 105. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook BHP Getting Into Cobalt Miner BHP Billiton has plans to ramp up its production of a cobalt product used in electric vehicle (EV) batteries, Bloomberg reported. Per the […]
