After nickel prices saw a sharp slowdown in May, prices started to form sideways trends in relief to the downtrend. Like other base metals, nickel prices rallied during the first weeks of June until bullish momentum exhausted itself and prices retraced to the downside. Prices found a bottom at the end of June and continue […]
Category: Metal Pricing
Global Precious Metals MMI: Precious Metal Prices Moving Up, but for How Long?
Precious metal prices (especially silver) began a brief rally on July 12 before retreating again. Whether or not the bulls are here to stay is a question up for debate. Many remain optimistic that gold prices will continue upward until the end of 2023. However, gold and other precious metals markets still face some bearish […]
Construction MMI: Construction Material Costs Remain Elevated
The latest construction news reports that while interest rates remain high, inflation is finally losing steam. This could go a long way toward helping U.S. construction projects. However, the Construction MMI (Monthly Metals Index) continues to experience pull in both directions. This is mainly due to ongoing labor shortages and the inflated cost of materials […]
Aluminum MMI: Russian Metal Hits 80% of LME, Aluminum Prices Rise in July
Aluminum prices continued to slide throughout June but appeared to find a bottom in early July. Prices started to form relief patterns in the short term, rising following bearish price action over recent months. Meanwhile, cooling inflation data saw market sentiment improve. The U.S. dollar index, which has an inverse correlation to metal prices, dropped […]
Raw Steels MMI: Bearish HRC, Steel Prices Flatten at Start of July
The Raw Steels Monthly Metals Index (MMI) moved sideways, with a modest 0.32% decline from June to July. Flat rolled steel prices appeared decidedly bearish throughout June. HRC prices saw the largest month-over-month decline, dropping nearly 16% before finding a bottom at the start of July. From there, HRC prices saw a modest $1/st increase […]
Automotive MMI: Automobile Sales Rise, but Falling Steel Demand Impacts Market
The Automotive MMI (Monthly Metals Index) continued its decline in June, this time falling by 3.28%. The aluminum and copper components of the index traded sideways. However, all other parts of the index dropped. Lead prices managed to trend more sideways in June than in May, but weak demand continues to impact lead and steel […]
Copper MMI: Current Copper Prices Sideways on Weak Manufacturing
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. […]
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 […]