After several months of slight upward momentum, the Renewables MMI (Monthly Metals Index) broke the sideways-to-upward trend, declining by 8.89%. Neodymium dropping in price proved to be the main culprit for the index dropping. Every other component of the index either moved sideways or slightly down. Meanwhile, renewable energy news sources continue to keep their […]
Category: Non-ferrous Metals
Copper MMI: Copper Prices Rise to Highest Level Since April Amid Supply Concern
By mid-March, copper prices hit their highest level since April 2023. Prices previously found a bottom in early February before strong upside momentum saw them topple previous peaks within their long-term sideways trend. While prices clocked a moderate1.74% month-over-month decline throughout February, they rose 4.12% during the first two weeks of March. Overall, the Copper […]
European Aluminum Industry Faces Existential Threats
The European aluminum manufacturing industry is under attack from two short- and medium-term threats, both of which have the potential to significantly impact aluminum consumers across the region. Threat #1: Potential Russian Aluminum Ban, Aluminum Manufacturing Shortage The first threat is the widely debated possibility of the EU banning Russian aluminum. While the UK has […]
Automotive MMI: Automotive Market Improves, but Bears Show Up for Steel Prices
Month-over-month, the Automotive MMI (Monthly Metals Index) dropped by 3.03%. While the automotive market continued to improve overall, bearish pressure on certain steel prices like hot-dipped galvanized steel, ultimately forced the index down. Experts anticipate this bearish pressure to continue impacting both steel prices and automotive manufacturing in the short term. Despite this, the automotive […]
Rare Earths MMI: Is China Moving Down the Rare Earths Totem Poll?
The Rare Earths MMI (Monthly Metals Index) experienced a pretty significant drop month-on-month, falling 24.73%. Save for cerium oxide, all components of the index either fell or moved sideways. Weaker than anticipated downstream demand ended up hitting certain metals related to rare earth magnets particularly hard, causing a plummet in the index. Another significant factor […]
China’s Aluminum Exports to EU Plunge 30% Under Carbon Tariff
Earlier this week, the China Nonferrous Metals Industry Association reported a 30% decline in the volume of aluminum products exported from China to the European Union. Aluminum manufacturing analysts quickly pointed out that this most likely resulted from the bloc’s 2023 carbon border tariff. The EU’s Carbon Border Adjustment Mechanism (CBAM) represents a new way […]
Aluminum MMI: Aluminum Prices Sideways After U.S. Smelter Closure
Following a 4.7% month-over-month decline during January, aluminum prices fell an additional 1.9% throughout the first half of February. Despite these declines, aluminum prices continued to trade in their long-term sideways range. Meanwhile, the Midwest Premium also remains consolidated, with prices retracing to the downside following a short-lived bounce at the end of January. Overall, […]
Global Precious Metals MMI: Precious Metal Prices Edge Further Down Month-on-Month
After almost a year of sideways movement, the Global Precious Metals MMI (Monthly Metals Index) broke its trend, declining by 4.71%. Despite the break in sideways movement for precious metal prices as a whole, most individual commodities still lack strong bullish or bearish movement as they move through Q1. Most gold and other precious metals […]
Renewables/GOES MMI: The “Dirty” Business of Disposing of Solar Panels
Numerous factors continue to pull at the Renewables MMI (Monthly Metals Index) as it moves through Q1. This past month, the index largely moved sideways, only exhibiting a slight upward movement of 1.66%. Meanwhile, renewable energy news indicated that metals like cobalt and silicon could remain in oversupply for some time. Moreover, expanding mining operations […]
Copper MMI: Copper Prices Remain Sideways as China Uncertainty Looms
Copper prices today remain trapped in a sideways range. Prices lack enough bearish or bullish momentum to establish a strong trend in either direction. Prices declined during the first weeks of January, falling to their lowest level since November. However, they rebounded in the second half of the month. This brought them a mere 0.52% […]