Articles in Category: Sourcing Strategies
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It was another action-packed week in the world of metals, including coverage from Stuart Burns on the rising copper price, developments in the rare earths sector and the release of the MetalMiner 2021 Annual Outlook report.

The 2021 Annual Outlook is an invaluable resource for metals buyers preparing to set their spend for the year ahead. The Annual Outlook includes analysis of key price drivers, support and resistance levels, and average prices. In addition, the report features detailed analysis of 10 key metals.

For more information on how to subscribe to gain access to this year’s report, visit the dedicated landing page for the 2021 Annual Outlook.

Before we head into the weekend, let’s take a look back at the week that was:

Week in Review, Sept. 7-11 (rising copper price, RARE Act and more)

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MetalMiner 2021 Forecasting WorkshopWe are only two days away from 2021’s MetalMiner Budget and Forecast Workshop on Thursday, Aug. 13, 2020. Many metal buyers are about to lock themselves into pricing for the next 12 months – in a very, very, very unsteady world.

If 2020 has taught us anything, it’s that flexibility is key.

Going into negotiations, buyers have a lot on their minds. A looming recession? Supply and demand all over the place? Will my suppliers stay in business? What will prices do? How will the presidential election potentially affect all of this?

How the heck do I even begin to think about all of the things I don’t know about what’s to come?

Take a deep breath. We can do this together.

Here’s how we plan to help

  • A bummer, but we’re virtual this year to keep things safe. So, you’ll be able to work from the comfort of your own home.
  • Don Hauser, our vice president of business solutions, comes to us after more than a decade of steel buying for John Deere. He’s bought a LOT of steel. Don will be leading some strategy discussions, including walking through some of his John Deere secret sauce. Steel buyers: get excited. 
  • Maria Rosa Gobitz, our new senior research analyst, comes to us from Wood Mackenzie. As a copper, gold and zinc analyst, she’ll lend some interesting insights that we’ve never had before. Copper buyers, you’ll be happy to hear her shed some light on 2021.
  • We know very well how much every dollar counts right now. With that in mind, we’re planning a rigorous discussion around how best to work with service centers and mills for cost savings.
  • We’re launching should-cost models. They’re good, and we can’t wait to show them to you.

As of publication, we only have seven spots left in the live session. It’s FREE for corporate MetalMiner Outlook and MetalMiner Insights subscribers, and $99 for non-subscribers. 

Lastly, if you have questions, feel free to reach out. If not, be sure to register now before seats fill up.

MetalMiner 2021 Forecasting WorkshopMetals buyers should always be looking for every possible edge to manage their spend, particularly amid volatile times (like we’ve seen this year).

In the MetalMiner 2021 Forecasting Workshop, held virtually this year, attendees will:

  • Hear from MetalMiner experts on short- and long-term metals outlooks
  • Beta test MetalMiner’s should-cost models
  • Gain valuable insights vis-à-vis metals spend strategies for the next year

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This has been a volatile year for global markets, with already slowing economic growth compounded by the destructive impact of the coronavirus pandemic.

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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.

Request a 30-minute demo of the MetalMiner Insights platform now.

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.”

Improve metal purchase timing and mitigate price risk — trial MetalMiner’s monthly metal buying outlook

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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