A new question mark hangs over the fate of Chinese aluminum production for the rest of 2023. In March, China’s primary aluminum output increased by 3% compared to the same period in the previous year. However, the increase occurred at a slower pace than in previous months. While this did bring some cheer, the future […]
Category: Non-ferrous Metals
Global Precious Metals MMI: Investors Trade Cash for Cold, Hard Gold
The Global Precious Metals MMI (Monthly Metals Index) enjoyed its largest month-over-month increase in a year. Between March and April, the index broke out of its tight sideways range and rose by 6.93%. The current talk of the town for precious metal prices today centers around recessionary fears. Indeed, investors are increasingly turning to precious […]
Australia on Track to Earn as Much for Lithium as Thermal Coal
Australia is on the brink of a significant accomplishment in the worldwide transition from fossil fuels to renewable energy sources. Within the next five years, the country projects it will generate as much revenue from exporting lithium, a crucial mineral in battery technology, as it presently does from thermal coal. This news is even more […]
Renewables/GOES MMI: Slowing Economy Could Impact Renewable Energy Companies’ Projects
The Renewables MMI (Monthly Metals Index) dropped by 3.65% between March and April. This represents the index’s most significant drop since November 2022. Despite this, the index still has yet to break out of its sideways trend. However, the falling economy continues to keep both renewable energy companies and investors on edge. The Inflation Reduction […]
Metal Manufacturing News: Glencore Proposes Merger with Canada’s Teck Resources
On April 3, multinational commodity trader and mining group Glencore announced its proposal for a merger with Canada’s Teck Resources. Estimates say the metal manufacturing merger could potentially create $4.25-5.25 billion of post-tax synergy value. However, Vancouver-headquartered Teck announced its rejection of the offer on the same day. “The board of directors of Teck has […]
Rio Tinto Selling Stake in Peru’s La Granja Copper Mining Project
Rio Tinto Group recently agreed to sell a 55% majority stake in its La Granja copper project in Peru to First Quantum Minerals Ltd. The deal involves the First Quantum paying U.S. $105 million. The hope is that the sale will allow the project to progress even faster. It should also allow the Rio team […]
Cornish Metals to Mine Tin at its South Crofty Site
Cornish Metals plans to begin tin mining at its wholly-owned South Crofty site by 2026. According to the Vancouver-headquartered company, the start of mining will also coincide with an expected deficit in tin. Indeed, market analysts predict that there will be a significant shortfall in the global tin supply by the same year, which could […]
Global Precious Metals MMI: Prices Highly Volatile, Dropping Up and Down Rapidly
The Global Precious Metals MMI (Monthly MetalMiner Index) dropped considerably month-over-month. All in all, the index fell by 8.74%. The market continues to witness bearish pressure on precious metal prices today, just as it did throughout Q1 of 2023. While this led to a significant drop in value, some metals are feeling the effects more […]
Copper MMI: Copper Prices Awaiting a Downturn
Recent price action suggests strong potential for the price of copper to shift away from the rally witnessed at the beginning of the year. Technical analysis (TA) indicates that copper prices have begun to form lower highs on shorter time frames. This is a strong indicator that a downtrend lies ahead. However, prices will continue […]
Automotive MMI: are Lithium Supplies Threatened by Supply Shortages?
Similar to the past six months, the Automotive MMI for March was again pulled in multiple directions. Hot dipped galvanized prices rose again, following the same trend as HRC and CRC. However, Chinese lead prices dropped significantly, pulling the index down. This was mainly due to car sales shrinking within China (the world’s top market). […]