What is true for oil and natural gas in the Russia-Ukraine conflict is increasingly becoming true of all commodities. Spot market oil, gas flows slow A post this week in the Economist outlines how Russia’s oil and gas exports are grinding to a halt, at least as far as the spot market is concerned. Longer-term […]
Category: Non-ferrous Metals
Current impact of the Russian invasion of Ukraine on the European metals market, metal prices
To say the situation in Ukraine — and its impact on metal prices _— is constantly evolving situation would be an understatement. No sooner is the position defined when new developments put previous assessments out of date. Nonetheless, we will do our best to address many of the developments as they are evolving this week. […]
Nickel prices jump on Russia moves while LME stock levels continue to fall
The London Metal Exchange’s (LME) nickel price shot up by more than $1,000/mt on Friday Feb 25, a rise that one analyst directly connected to Russia’s invasion into Ukraine. The official, three-month nickel bid price reached $25,625 per metric ton on Feb. 24, The price increased 4.3% on the day from $24,575/mt, data from the […]
No respite for European zinc smelters in face of high energy costs
European zinc producers will continue to face volatile energy costs until more renewable sources and LNG gas become more accessible, industry watchers said. “Zinc smelters are really struggling as electricity is a bigger proportion of the cost compared with copper or nickel smelters,” one analyst told MetalMiner. This has led to rising zinc prices. Renewables […]
Stainless MMI: Nickel surged to 11-year high
The Stainless Monthly Metals Index (MMI) rose by 7.46% from January to February. Nickel prices surged to an 11-year high last month, due to plummeting LME warehouse inventories. Prices retraced in late January after a minor sell off, but managed to rebound. As prices climb toward recent highs, they may either breakout to new levels. […]
Bases metals prices with short term volatility followed by medium term falls
Many metals consumers normally buy if not spot then on a three-to-six-month time horizon. Still others book up to a year out. Those that fix for longer periods often publish annual sales price lists. These companies need to fix input costs to protect margins. However, that too comes at a cost. Of course there is […]
Copper MMI: The sideways trend continues
The Copper Monthly Metals Index (MMI) held flat at 119 from January to February. Copper prices continued to trade sideways within tighter and tighter ranges, with no clear short-term price direction. Nonetheless, copper prices remain bullish on longer time frames. Chilean assembly considers copper nationalization Members of an environmental committee in Chile voted for mine […]
Aluminum MMI: Tight market could get tighter
The Aluminum Monthly Metals Index (MMI) rose for the second consecutive month by 8 points to 138. Aluminum prices rebounded after a recent correction in December. Prices have begun to trade sideways. Market sentiment will soon tell whether prices rally past recent highs or see a minor correction. Ukraine-Russia tensions put market in limbo Market […]
Indian aluminum supply under threat from coal crisis
In spite of India’s coal supply crisis easing up a bit, the country’s aluminum sector has pressed the panic button. The industry has alleged that low coal stocks threaten supply of the metal. The Aluminium Association of India (AAI) voiced this concern in a representation to the Indian Ministry of Coal last week. The AAI […]
How a potential Russian incursion can impact metals markets
Metals experts and analysts from around the world have reacted to the on-going Russia-Ukraine tension by saying any escalation would have a negative impact on global metals markets. The continued geopolitical worries have raised the possibility of new sanctions on trade with major Russian metals producers. This could further squeeze the tight aluminum, copper and […]