Soaring power costs in Europe wrecked havoc on the aluminum industry. In fact, several aluminum smelter sites have partially or temporarily shuttered this year. As most people know, power costs surged starting last year due to increasing oil and natural gas prices. However, Russia’s invasion of Ukraine turbo-charged this escalation. With Ukraine being a key […]
Category: Supply & Demand
China Steel Mills Hurting, Iron Ore Prices Reeling
2022 has been a roller coaster ride for iron ore prices, which dipped yet again on Monday. Of course, demand from Chinese steel remains the top reason for either a rise or downturn in prices. This week, as it turns out, was no different. In fact, prices tumbled immediately after analysts explained their “bleak outlook” […]
Plate and HRC Steel Production Strained as Factories Shut Down
Metinvest, the Ukrainian steel production and mining group, recently began the process of restarting several of their Italian flats rolling mills. The factories had been offline for scheduled maintenance throughout May. And with global supplies strained, both Metinvest and the market are welcoming the much-needed additional steel production. Metinvest’s plate and hot rolled coil mill […]
Rare Earths MMI – US Breaking Away From Chinese Rare Earth Elements Supply
The Rare Earths MMI (Monthly MetalMiner Index) declined more sharply in July than in June. Compared to last month’s drop of 0.64%, July’s Rare Earths index dropped a total of 3.80%. Meanwhile, both the US and Europe are frantically searching for new sources of rare earth elements. Online Influence Group Causes Rare Earth Elements Uproar […]
Vladimir Potanin Sanctioned by the UK and Nickel Price Impact
The UK government has added Vladimir Potanin, Norilsk Nickel’s president and chairman of the management board, to its list of sanctioned individuals. The LME nickel price remains in question. A June 29 update notification from HM Treasury’s Office of Financial Sanctions Implementation (OFSI) noted Potanin’s addition. The stated reason was that he would benefit from […]
International Commodities Market Fluctuates, Global Slowdown Impending
Mexico’s steel metal market recently saw a slowdown on metal prices, leading experts to believe that Mexico’s industrial metal market may soon turn bearish. Flat steel prices, along with long steel prices, have been dropping over the past several weeks. In fact, Mexico’s steel prices have been in steady decline since April. However, in mid-May, […]
Solar Panel Tariffs on China Halted, Causing Astonishment
For US President Joe Biden, it’s a Hobson’s choice on Chinese solar panel imports. His new move to pause tariffs on imported Chinese-made silicone solar panels for two years has been either hailed or criticized. The announcement came in the middle of an on-going investigation by the US Commerce Department. Possible trade agreement violations are […]
Aluminum prices, stock and delivery premiums veer in different directions
So far this year, on LME aluminum trading, inventory levels have directly correlated with price direction. Aluminum demand has outstripped supply causing falling inventory levels, and many assume prices are due to rise, except they’re not. According to a Reuters report, LME inventories fell steadily this year with total inventory down by 479,000 metric tons […]
Construction MMI: Optimism Rises While Indices Decline
The Construction MMI dropped by 9.41% from May into June. The decline comes amid growing optimism about the state of the industry. Even so, talk of recession continues to cast a shadow over the post-COVID economy. U.S. Construction Market Expected to Grow 3% by 2026 Despite the doom and gloom recession talk going on, […]
Automotive MMI: Lower Metals Prices and Slumping Supply Dominate the May Market
The Automotive MMI (Monthly Metals Index) experienced a slight decline from May into June. The 30-day price change was roughly -9.55, a -6.52% drop. As with last month, multiple crises impacted the marketplace’s overall health. Among them are an ongoing microchip shortage and COVID-19 lockdowns. Below, we’ll discuss if and when we can expect normalization. […]
