The Automotive MMI (Monthly MetalMiner Index) finally broke its downward trend and traded sideways, inching up by 2.53%. Meanwhile, myriad factors continue to pressure metal prices. The demand for vehicles among consumers remains strong. However, low inventories throughout most of 2022 placed a huge strain on the index. Without parts, the manufacturing of new vehicles […]
Category: Supply & Demand
Construction MMI: Aluminum Plate and Steel Rebar Reverse
The Construction MMI (Monthly MetalMiner Index) flatlined sideways, moving downward by a meager 0.07%. The overall volatility of metal prices remains a primary challenge to the index. The near-stationary index contrasts starkly with the downward 2022 trend. Aside from fluctuating metal prices, the industry also had its integrity tested by several other problems. These included […]
Renewables/GOES MMI: Steel Plate Drops While Battery Metals Hold Strong
The December Renewables MMI (Monthly MetalMiner Index) traded sideways, practically in a straight line. Overall, metal prices within the index only dropped 0.83%. This sideways trend contrasts sharply with the steep drop renewables saw just six months ago. Battery metals within the index, such as cobalt and silicon, held a steady sideways trend, only rising […]
Iron Ore Futures to Rise as China Eases zero-COVID
China’s steady easing of COVID-19 restrictions finally allowed the beleaguered economy to begin reopening. Many experts expect a renewed demand for steel, which means an increased appetite for steel-making raw materials such as iron ore. Both analysts and traders believe the lifting the restrictions was a step in the right direction. This current positivity is […]
Stainless MMI: Reduced Stainless Imports Could Cause Shortages, Bullish Nickel Price
The Stainless Monthly Metals Index (MMI) moved up with a 7.32% rise from November to December. Meanwhile, the nickel price index appeared decidedly bullish throughout the month. While nickel prices modestly retraced from their early month rally, upside price action continued to support the short-term range breakout. Sustained increases should foster further bullish anticipation, which […]
Rare Earths MMI: Global Rare Earth Supply Chains in an Uproar
The December Rare Earths MMI (Monthly MetalMiner Index) traded sideways for the second month in a row. The index dropped 1.55% and MetalMiner anticipates it will continue sideways, most definitely for the short term and possibly in the long term. This is mostly thanks to the supply of global rare earth magnets being interrupted by […]
Could Macroeconomics Cause a Steel Price Reversal?
Uncertainty regarding China’s stance on zero-COVID, when restrictions might ease, and riots within China throughout recent weeks have all contributed to more flat steel prices. What’s more, recession fears are starting to notably impact commodities. Yet another contributing factor? Fears of a railroad strike. With the cut-off date for meeting railroad unions’ terms fast approaching, […]
Despite Mine Expansion, Copper Price Outlook Still Bearish
Let’s begin with the good news first. Global copper mine capacity rose nearly 5% to 20.38 million tons (MT) between January and September of 2022. According to a report by the International Copper Study Group (ICSG), this was mainly due to the additional production at new or expanded mines. That said, global demand for the […]
With China Failing, Volatile Metal Prices Could Spill into 2023
There have been a number of dynamics driving metals prices this year. They’ve ranged from the strength of the USD to the war in Ukraine to the still-ongoing energy crisis. However, as with the past two decades, the primary recurring theme remains Chinese demand. As both producer and consumer of most of the world’s major […]
Nickel Market Volatility Leaves Buyers Confused
November marked a rocky roller coaster for many metal prices, and the nickel price index was no exception. After the sharp rally at the beginning of the month, nickel prices eventually bounced back down. At the time, MetalMiner noted that the rally would prove short-term at best and didn’t indicate a true reversal. The LME’s […]
