This morning in metals news: December steel shipments rose by 4.4%; meanwhile, miner BHP announced plans to work with Japanese steelmaker JFE to study how to reduce greenhouse gas emissions from the steelmaking process; and, lastly, the copper price has bounced back after a January lull. Steel shipments rise in December US steel shipments rose […]
Category: Non-ferrous Metals
Tin market in a squeeze as supply is hard to find
We have said it before, but we are not great fans of using stock levels as a predictor of price trends or even as a proxy for wider physical market metal availability — however, in the case of the tin market, LME stock position is the surest illustration of a market under extreme duress. Tin […]
Copper MMI: Copper demand likely to remain strong well into 2021
The Copper Monthly Metals Index (MMI) increased for the fourth consecutive month, rising by 1.1%, as copper demand is likely to remain strong this year. Copper prices traded sideways throughout January, which proved to be a slow month for the red metal. Most of its momentum over the past year came from China, which has […]
This Morning in Metals: EIA forecasts renewables share of US electricity generation to double by 2050
This morning in metals news: the Energy Information Administration forecast the renewables share of US electricity generation will double by 2050; meanwhile, the US unemployment rate fell to 6.3% in January; and, lastly, the tin price has bucked the recent general trend for base metals prices. EIA: renewables share of electricity generation to double by […]
Aluminum MMI: US reinstates tariff on aluminum imported from UAE
The Aluminum Monthly Metals Index (MMI) increased by 2.1% this month, as LME aluminum prices traded sideways and the US reinstated the Section 232 aluminum tariff on imports from the United Arab Emirates. U.S. aluminum reinstates aluminum tariff on UAE On Feb. 1, President Joe Biden reinstated the 10% aluminum tariff on imports from the […]
Week in Review: Copper retraces; USCIT rules on Section 232 steel tariff; Vale reaches $7B settlement
Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner, from steadier metals prices to the United States Court of International Trade’s recent ruling related to a Section 232 steel tariff challenge. Furthermore, Brazilian miner Vale reached a massive settlement two years […]
Metals prices in 2021 likely to plot more stable course
When discussion of metals markets — indeed, any markets — considers likely price trends, it nearly always starts off looking in the rear-view mirror. Last year’s copper market suggests a bull market driven by vociferous Chinese demand. Imports surged after China relaxed its spring lockdown. Prices rose strongly, up some 48% on the LME from […]
This Morning in Metals: US mines produced $82.3 billion in minerals last year
This morning in metals news: US mines produced approximately $82.3 billion in minerals in 2020; meanwhile, the United States International Trade Commission launched a Section 337 investigation related to batteries; and, lastly, aluminum prices have been dropping. US mines produced $82.3 billion in minerals in 2020 US mines produced approximately $82.3 billion in minerals last […]
This Morning in Metals: Copper price slips to one-month low
This morning in metals news: the copper price fell to its lowest level in a month; US housing starts ticked up 5.8% in December; and China’s industrial profits rose 4.1% in 2020. Copper price dips to one-month low After surging in the second half of 2020, the copper price has slumped thus far in 2021. […]
Week in Review: General Motors shoots for carbon neutrality by 2040; copper price cools; December US steel imports rise
Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner. In sustainability news, Big 3 automaker General Motors said it intends to be carbon neutral in its operations by 2040. The automaker has also indicated it will offer 30 new all-electric models […]