Stainless and nickel price trends fluctuated much more than carbon steel throughout 2022. The LME nickel squeeze greatly strained both the nickel and stainless steel markets. Indeed, LME nickel prices skyrocketed by almost $25,000 per metric ton back in March. Soon after, the rally cooled down again, eventually bottoming out in July. Come November, prices […]
Category: Metal Pricing
Copper Price Trends: 2022 Review
Looking at 2022 copper price trends, the market was nearly as volatile as metals like nickel and aluminum. Currently, copper prices are attempting to break prior highs but have yet to get there. As copper taps into short-term resistance levels, the possibility of a pullback in price appears more and more likely. Meanwhile, the copper […]
Aluminum Prices and Global Market: a 2022 Review
Aluminum prices reached a high price of almost $4,000 per metric ton on the LME primary 3-month in 2022. However, there were plenty of sales for roughly half that amount, attesting to the wide range of the 2022 index. When March’s rally ended, prices began a decline that resulted in them hitting a yearly low […]
Global Precious Metal MMI: Long Term Price Directions Remain Uncertain
The Global Precious Metals MMI (Monthly MetalMiner Index) stayed within a sideways range this past month. However, precious metal prices did rise by a modest 1.13%. As the US dollar dropped in value over recent weeks, precious metal indexes responded accordingly. Month-over-month, gold, platinum, and palladium all saw a brief rally between Nov 3 – […]
Copper MMI: Copper Prices Bullish as Year’s End Approaches
The Copper Monthly Metals Index (MMI) rose 3.87% from November to December. As with other base metals, copper prices broke out of range to the upside last month as China began to pivot away from zero-COVID. Copper prices rallied to a peak on November 11 before a brief and modest retracement. Shortly after that, prices […]
Automotive MMI: Interest Rates Move Up, Consumer Demand Moves Down
The Automotive MMI (Monthly MetalMiner Index) finally broke its downward trend and traded sideways, inching up by 2.53%. Meanwhile, myriad factors continue to pressure metal prices. The demand for vehicles among consumers remains strong. However, low inventories throughout most of 2022 placed a huge strain on the index. Without parts, the manufacturing of new vehicles […]
Aluminum MMI: Rally Continues as Aluminum Prices Remain Bullish
Aluminum prices broke out of their sideways trend last month with strong upside price action. Prices rallied during the first half of November, followed by a modest retracement before they continued upward. Overall, the Aluminum Monthly Metals Index (MMI) saw a modest 1.04% increase from November to December. The MetalMiner Insights platform includes global aluminum […]
Construction MMI: Aluminum Plate and Steel Rebar Reverse
The Construction MMI (Monthly MetalMiner Index) flatlined sideways, moving downward by a meager 0.07%. The overall volatility of metal prices remains a primary challenge to the index. The near-stationary index contrasts starkly with the downward 2022 trend. Aside from fluctuating metal prices, the industry also had its integrity tested by several other problems. These included […]
Raw Steels MMI: Where is the Bottom for Falling Steel Prices?
The Raw Steels Monthly Metals Index (MMI) fell by 2.34% from November to December. Ultimately, U.S. steel prices remain decidedly bearish. Meanwhile, hot rolled coil prices saw the most substantial decline, falling 12.6% month over month. Plate prices, on the other hand, mainly remained sideways but continued to edge slowly downward with a 2.9% decline. […]
Renewables/GOES MMI: Steel Plate Drops While Battery Metals Hold Strong
The December Renewables MMI (Monthly MetalMiner Index) traded sideways, practically in a straight line. Overall, metal prices within the index only dropped 0.83%. This sideways trend contrasts sharply with the steep drop renewables saw just six months ago. Battery metals within the index, such as cobalt and silicon, held a steady sideways trend, only rising […]
