Articles in Category: Sourcing Strategies

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If you are a metals purchaser, it is imperative to mitigate risk and keep costs down whenever possible.

Of course, volatile market conditions can very quickly disrupt a buying organization’s approach, whether it’s due to the imposition of new tariffs, the coronavirus outbreak or the oil price plunge (just to name a few recent events with seismic impacts on metals markets).

With that said, changing market conditions require a flexible, knowledge-based approach, including knowing the best times to buy and which contract mechanisms to utilize for each market type.

MetalMiner CEO Lisa Reisman and Vice President of Business Solutions Don Hauser broke down all of the above and more during a webinar Wednesday, June 24, titled “How to Set Your Metal Purchasing Strategy in Volatile Markets.”

The full webinar recording can be listened to on demand from the MetalMiner video archive.

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The Renewables Monthly Metals Index (MMI) fell 2.1% this month. (Editor’s Note: This report also includes coverage of grain-oriented electrical steel.) 

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Airbus has risen to rival Boeing to form a duopoly despite the plane maker operating across multiple countries and, even before the pandemic, facing problems of scale, fragmentation and lack of profitability.

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The COVID-19 pandemic has had wide-ranging impacts on the global economy, disrupting supply chains and depressing commodities markets.

As Deloitte noted in a recent report on COVID-19 — the “black swan of 2020” — the pandemic’s total impact on supply chains is still unknown.

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As the coronavirus outbreak continues to wreak havoc around the world, the crisis has already left a major mark on societies, politics and business.

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The outbreak has disrupted supply chains and led to the idling or slowdown of operations in North America (and across the world).

With shelter-in-place orders instituted in many places throughout the U.S. and lingering uncertainty — even as the U.S. Senate voted this week to approve an over $2 trillion stimulus package — the climate is ripe for some potentially awkward conversations with suppliers about payment concessions.

Over at MetalMiner’s sister site SpendMatters, Jason Busch outlined techniques and strategies that can be used when approaching suppliers about concessions on payments.

“Disruption from the coronavirus outbreak is forcing some tough conversations about payments,” Busch wrote.

“It’s never an easy topic, but asking suppliers for concessions on a call or video chat in an empathetic manner — or even pre-empting the discussions by socializing ideas early — is far more effective and conducive for relationship-building and joint development than sending out emails, letters or other methods.”

Busch suggests laying the groundwork for these types of potentially tricky conservations by humanizing the discussion and being prepared to counter with empathy and open-ended questions.

“It’s even possible to get them to volunteer a solution, without yielding ground, rather than being confrontational and demanding,” Busch wrote. “These approaches are likely to be more effective, and result in better relationships, while also surfacing information you would not have otherwise discovered in the process, and that information may help you reduce risk and/or improve your negotiating position.”

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Read the full article at SpendMatters.

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How will the coronavirus outbreak and oil price volatility impact metal prices in 2020 and how can industrial metal buying organizations be prepared for what’s ahead?

Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!

This past Friday, the MetalMiner team hosted a pop-up webinar on that very subject, “Managing Metal Price Volatility: How the Coronavirus Will Impact Metal Prices Throughout 2020,” featuring MetalMiner CEO Lisa Reisman, MetalMiner Editor-at-Large Stuart Burns and Vice President of Business Solutions Don Hauser.

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As government entities in the U.S. battle to curb the spread of the coronavirus (COVID-19), incrementally stricter provisions on public gatherings have been implemented. Large businesses, from casinos on the Las Vegas strip to Disney World, have closed up shop.

Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!

As of 4:00 p.m. CET (Central European Time) on Monday, the World Health Organization (WHO) reported 168,109 confirmed cases in 148 countries, including 6,610 deaths.

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Before we head into the weekend, let’s take a look back at the week that was and some of the coverage here on MetalMiner, including: Tesla’s reported interest in cobalt-free batteries; the oil price crash; falling aluminum prices; supply-chain challenges amid the COVID-19 outbreak; Trump’s travel suspension; and global cobalt mine production:

Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!

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Experts in India are of the opinion that the outbreak of the novel coronavirus, COVID-19, presents an opportunity for India to become an alternate supply chain to China in metals, especially steel.

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TV Narendran, Tata Steel’s chief executive and managing director, is one of the people who believes just that.

While addressing a meeting of business representatives recently, he said the de-risking of supply chains originating from China, which had started following heightened concerns of a U.S.-China trade war, was likely to be accelerated on the back of concerns over the recent outbreak.

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This morning in metals news, German firm Thyssenkrupp announced the sale of its elevator segment, the U.S.’s trade deficit in goods dipped in January and the International Tin Association recently surveyed tin producers regarding the impact of the coronavirus outbreak.

Metal prices fluctuate. Key is knowing when and how much to buy with MetalMiner Outlook. Request a free trial.

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