The Automotive MMI (Monthly Metals Index) broke out of its nearly 6-month-long sideways trend amid several changes in metals prices. Month-over-month, the index rose 5.24%. Except for shredded scrap steel and palladium, most components of the index either moved up or sideways with slight upward movement. With the recent LME and CME ban on Russian […]
Category: Non-ferrous Metals
The Charge Towards a Brighter Future: Innovations in the Battery Market
In a world where the appetite for energy is insatiable, the battery market has become the playground for some of the brightest minds aiming to fuel everything from cell phones to electric vehicles. However, as our gadgets become even smarter, the traditional batteries we’ve relied on seem ever so dim-witted in comparison. Enter the era […]
Rare Earths MMI: Chinese Rare Earth Profits Continue to Slide
The Rare Earths MMI (Monthly Metals Index) saw a massive rebound after four months of sharp declines. All in all, the index rose by a whopping 14.36%. This enormous increase could indicate that prices for rare earth metals finally found a bottom between March and April. Chinese Rare Earth Metals Profits Still Declining China’s mining […]
Anglo American Rejects $38.8 Billion BHP Takeover Offer
Metals markets recently saw UK metal and mining multinational Anglo American reject a £31.1 billion ($38.8 billion) takeover bid from Australia’s BHP. Meanwhile, shareholders in the latter company continue to urge an increase in the offer price. On April 26, London- and Johannesburg-listed Anglo American’s board of directors unanimously rejected BHP’s unsolicited, all-share offer made […]
Copper Hits Record $10,000 Milestone: Experts Warn of Impending Supply Crisis
It took about 24 months for the price of copper to reach the psychological mark of U.S. $10,000 per metric ton. Three-month copper futures on the London Metal Exchange (LME) touched the $10k mark last week. The last time copper crossed this threshold was in March 2022, when it reached $10,845 per ton in the […]
LME and CME Russian Metal Ban Prompting Speculation About Market Fragmentation
By now, anyone in the metals market will know that the U.S. and UK recently banned the consumption of Russian aluminum, copper, and nickel produced from April 13 onward. While metal already on the London Metal Exchange (LME) and the Chicago Mercantile Exchange (CME) are still available for consumption, no metal delivered after this date […]
Global Precious Metals MMI: Gold Prices Surge, But is It a Gold Rush, or Gold Bust?
Month-on-month, the Global Precious Metals MMI (Monthly Metals Index) rose by 8.25%. However, shortly after April 1, precious metal prices, particularly gold and silver, began surging as investors flocked to purchase as many gold bullions as possible. The reasons for this newfound “gold rush” include inflation hedging, anticipation of interest rate cuts, and geopolitical uncertainty. […]
LME’s Russian Metal Ban Shifts Global Metal Trade Dynamics
China will undoubtedly become an even more significant buyer of Russian metals following the London Metal Exchange’s ban on newly produced Russian aluminum, copper, and nickel. China has already evolved into a major market for Russian-made products following dwindling demand in the West, and these new Russian sanctions will likely only further cement that position. […]
Copper MMI: Sanctions Hit Copper Market, Volatility Ahead
Copper prices continued their breakout during March, rising 4.25%. Prices then formed a second higher high on March 15, followed by a new higher low on March 27. The rally continued throughout April as prices climbed an additional 7.59%. As of April 15, they stand at their highest level since June 2022. Subscribe to MetalMiner’s […]
Aluminum MMI: Prices Inch Toward 2023 High Amid China Supply Cut
Overall, the Aluminum Monthly Metals Index (MMI) remained sideways, with a 2.03% rise from March to April. Aluminum prices outperformed all base metals throughout March, with a 4.71% rise from the close of February. Prices continued their rally throughout April, hitting their highest level since February 2023 by April 8. Aluminum Prices Chase 2023 Highs […]