This morning in metals news, U.S. Steel recently underwent another round of layoffs, Braidy Industries‘ new CEO said the company still needs $500 million for its Kentucky aluminum mill, and the Aluminum Association announced its new president and CEO. Metal prices fluctuate. Key is knowing when and how much to buy with MetalMiner Outlook. Request […]
Category: Non-ferrous Metals
Aluminum MMI: Demand uncertainty weighs on aluminum prices
The Aluminum Monthly Metals Index (MMI) reversed last month’s three-point increase with a three-point decline back to 83. LME aluminum price dynamics switched late in January, with a precipitous drop setting prices down to a new short-term low.
Copper MMI: Uncertain demand after coronavirus outbreak reverses copper price gains
The Copper Monthly Metals Index (MMI) dropped six points this month to 70, a new long-term low, although close in value to October 2019’s reading of 71. Metal prices fluctuate. Key is knowing when and how much to buy with MetalMiner Outlook. Request a free trial. LME copper prices rallied as January progressed then dropped […]
Copper buyers call force majeure amid China’s efforts to control coronavirus outbreak
It probably had to happen at some stage. As we wrote recently, it isn’t the coronavirus epidemic as much as the response to it that is causing a collapse in supply chains. Generate hard savings on your metal buys year-round; trial MetalMiner’s monthly outlook report The decision to shut down roads and quarantine cities across […]
Construction MMI: U.S. construction spending drops 0.2%
The Construction Monthly Metals Index (MMI) traded flat this month for a February MMI reading of 79. Request a 30-minute demo of the MetalMiner Insights platform now. U.S. construction spending U.S. spending on construction reached a seasonally adjusted annual rate of $1,327.7 billion in December, marking a 0.2% drop from November but a 5.0% increase […]
Copper prices give up their gains as world monitors coronavirus impact
As my colleague, Fouad Egbaria reported earlier this week, copper prices have been on a slide. All the metals intelligence you need in one user-friendly platform with unlimited usage – Request a MetalMiner Insights platform demo Reuters also reported this week that copper on the LME traded down 0.1% at $5,634 a ton in official […]
This Morning in Metals: U.S. Steel releases Q4, full-year 2019 results
This morning in metals news, U.S. Steel’s latest financial release reflects a difficult 2019, Brexit is near and copper continues its slide. MetalMiner’s monthly buying outlook reports give you pricing and specific buying strategies for 10 metal types. Request your trial now. U.S. Steel reports Q4, full-year 2019 financials U.S. Steel posted net losses of […]
Aluminum price struggles to gain traction amid production restarts, ramp-ups
Analysts are finding it hard to get a handle on what lies ahead for 2020 aluminum prices. On the one hand, some well-respected sources, like Capital Economics, are suggesting in a recent report that prices will rise by year-end on the back of stronger demand, despite a return to production of temporarily shuttered production in […]
Trump expands Section 232 tariffs on steel, aluminum derivatives
Late Friday, the Trump administration announced it would raise the Section 232 steel and aluminum tariffs, originally imposed in 2018, on imports of steel and aluminum derivatives. Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today! “The Secretary has informed me that domestic steel producers’ capacity utilization […]
This Morning in Metals: Copper prices slide amid coronavirus fears
This morning in metals news, copper prices have been sliding amid growing fears over the spread of the coronavirus in China, laminated steel manufactured by Tata Steel in the Netherlands has been exempted from U.S. tariffs and China’s Jingye is reportedly considering building a new metals recycling furnace in the U.K. Looking for metal price […]