Are electric cars going to benefit or threaten Europe’s aluminum industry? At first, it might appear a stupid question. However, it is also one that aluminum industry news sources continue to ask. The average European EV contained 283kgs of aluminum in 2022 compared to 169kgs for ICE vehicles. That is according to a study by […]
Category: Non-ferrous Metals
Copper MMI: Deep Market Contango, Index Moves Sideways
Copper prices saw a 1.90% increase during the final month of the year. By late December, this managed to bring them to their highest level since August, leading to mixed copper price forecasts for 2024. However, prices began to retrace from their 5-month peak by the start of 2024. By mid-January, they remained trapped within […]
Renewables/GOES MMI: U.S. Transformer Shortage Pain Continues into 2024
The Renewables index began 2023 fairly sideways. However, it broke that trend in Q3 and Q4 when it edged downward. Numerous components of the index, including silicon and cobalt, experienced market oversupply. This caused prices to drop and pulled the index down with it. Grain oriented electrical steel also experienced market volatility in Q3 and […]
Global Precious Metals MMI: Index Rises, But Long-Term Forecasts Remain Bearish
The Global Precious Metals MMI (Monthly Metals Index) ended 2023 by breaking out of its sideways trend and rising 3.64%. However, most precious metals still lack strong bullish action. All precious metals retracted in January after experiencing rallies throughout December. Currently, precious metals prices, for the most part, lack the strength needed to break out […]
Aluminum MMI: U.S. Demand Muted, Russian LME Stocks Hit 90%
Following a more than 8% month-over-month increase in December, aluminum prices retraced during the first weeks of January, returning to their sideways trend. Markets appeared to shake off alumina supply jitters that saw prices spike at the end of 2023, as global demand remains muted. Nonetheless, there remains no expert consensus as to the overall […]
India US Trade Leaders Ease Duties, Forge Steel & Aluminum Export Harmony
India US trade is primed to shift. Both countries seem eager to enter a new period of trade harmony, as India’s Ministries of Mines and Steel, along with the Department for Promotion of Industry and Internal Trade (DPIIT), recently set up an in-house system to oversee the export of steel and aluminum products to the […]
Rare Earths MMI: China Bans Export of Rare Earth Metals Technology
Overall, 2023 proved volatile for the Rare Earths MMI, with the sector experiencing sharp declines at the beginning of the year. This mainly stemmed from decreased Chinese production, supply chain disruptions, and the numerous nations seeking non-Chinese sources of rare earth metals. During Q2 and Q3, price action remained sideways, but global supply dynamics continued […]
Habaş Announces 900,000 Metric Ton Downstream Mill in Turkey
Turkish longs and flats producer Habaş recently announced plans to build a downstream cold rolling and tinplate mill. The growing Turkish steel industry brand estimates that the plant will have an annual capacity of 900,000 metric tons. Current plans place the new plant on a greenfield site close to Habaş’ main production facilities at Aliağa. […]
Conflicting Reports Signal Chinese Aluminum Supply Uncertainty
Conflicting reports continue to emerge from China regarding aluminum supply, demand, and production. Some information notes that the downturn in the country’s economy is largely due to the ongoing real estate crisis. As demand wanes, this poses questions regarding the internal pickup of aluminum and other base metals. However, other reports talk of the country […]
Copper MMI: Possible Deficit Shifts Copper Price Outlook
Still short of a breakout, current copper prices lifted off their October lows during November and have yet to see a major downside correction. Nonetheless, copper prices remain sideways and sit only 1.5% above where they stood at the start of 2023. An increase among all of its components helped the Copper Monthly Metals Index (MMI) […]