It is not an idle question. For the last two decades, China’s infrastructure spending has been the engine of demand growth for steel, copper, and aluminum prices. So when the South China Morning Post reported that local governments sold 1.94 trillion yuan (US$289 billion) worth of bonds in June to fund infrastructure spending and boost […]
Category: Non-ferrous Metals
Stainless MMI: Nickel Prices Fall to a 6-Month Low
The Stainless MMI continues its decline this month. Moreover, nickel prices continue to show weakness without any apparent bullish anticipation from market participants. As the entire industrial metals market sloped downward, nickel prices followed suit. Moreover, volumes remain lower than pre-LME shutdown levels, which will continue to foster slow price movement. The Stainless Monthly Metals […]
Aluminum MMI: Aluminum Prices Plummet to 12-Month Low
Aluminum prices continue to display a macro downtrend. Shorter-term trading ranges are forming but also breaking quickly, signaling further bearish sentiment. Simultaneously, breakouts to the downside seem to indicate a lack of bullish strength and support. Altogether, the Aluminum Monthly Metals Index (MMI) dropped by 8.06% month over month. The MetalMiner Insights platform includes global […]
Copper MMI: Copper Prices Fall to Lowest Since November 2020
The Copper Monthly Metals Index (MMI) dropped 10.69% between June and July. The copper price trend continues to go bearish.Copper price action continues to show massive bear trends and signals further declines. The continuous breakdown of short-term trading ranges fosters a volatile market. This leaves industrial buyers at risk of inventory value fluctuations. Spike in […]
Do Aluminum Smelter Shutdowns Impact Physical Delivery Premiums?
Soaring power costs in Europe wrecked havoc on the aluminum industry. In fact, several aluminum smelter sites have partially or temporarily shuttered this year. As most people know, power costs surged starting last year due to increasing oil and natural gas prices. However, Russia’s invasion of Ukraine turbo-charged this escalation. With Ukraine being a key […]
Copper Prices Plunge, But Chile Remains Optimistic
Copper price and prices have long been considered a major indicator of global economic health. So when they plunged to 16-month lows on June 23, investors quickly hit the “panic button.” According to this CNN Business article, the commodity’s 11% drop over two weeks shows that global growth is slowing. However, not everyone agrees. Chile’s […]
Copper MMI: LME copper prices slide ahead of Fed rate hike
Copper prices rebounded sharply after declines in early May. While prices continue to find a bottom on a macro scale, they remain sideways in the short term. As a result, copper has been unable to establish a clear direction, either bullish or bearish.The Copper Monthly Metals Index (MMI) fell by 2.89% month over month. Copper […]
Aluminum MMI: Aluminum Prices Trade Sideways After Decline
Aluminum prices declined overall in May. However, near the end of the month, they appeared to hit bottom and began to trade sideways. Conflicting macroeconomic and geopolitical factors continue to pressure markets, resulting in unclear direction and price trends. Overall, the Aluminum Monthly Metals Index (MMI) dropped by 6.21% month over month. Shanghai Lockdowns Return, […]
Stainless MMI: Nickel Prices Fall and Start Consolidating
Nickel prices appeared to hit a bottom in mid-May, but the trend remains down. Moreover, recent price action showed few signs of any bullish structures on a weekly scale. All in all, the Stainless Monthly Metals Index (MMI) dropped 9.4% from May to June. LME Faces Nearly $500 Million in Lawsuits The nickel crisis returned […]
Nickel Prices: LME Nickel Contract Continues to Lack Liquidity, Harming Price Discovery
Nickel prices are seeing a lot of attention due to an overall lack of liquidity on the LME contract. But what exactly does this mean? Moreover, what does it mean for buyers looking to mitigate price problems in the face of global supply problems? The metals market moves fast. Sign up for the weekly MetalMiner […]