Base metal prices have seen significant increases over recent weeks. However, one metal has outperformed them all this month, lithium. The lithium spot market for battery grade salts, specifically carbonates and hydroxides, surged nearly 15% in just the last week, according to Fastmarkets. Fastmarkets’ price for lithium carbonate, 99.5% Li2CO3 min, battery grade, spot price […]
Category: Supply & Demand
Aluminum MMI: Tight market could get tighter
The Aluminum Monthly Metals Index (MMI) rose for the second consecutive month by 8 points to 138. Aluminum prices rebounded after a recent correction in December. Prices have begun to trade sideways. Market sentiment will soon tell whether prices rally past recent highs or see a minor correction. Ukraine-Russia tensions put market in limbo Market […]
Indian aluminum supply under threat from coal crisis
In spite of India’s coal supply crisis easing up a bit, the country’s aluminum sector has pressed the panic button. The industry has alleged that low coal stocks threaten supply of the metal. The Aluminium Association of India (AAI) voiced this concern in a representation to the Indian Ministry of Coal last week. The AAI […]
Raw Steels MMI: As steel prices fall, steelmakers look to scrap
The Raw Steels Monthly Metals Index (MMI) rose by 12.7% month over month to 121, as scrap prices made gains this past month. U.S. steel prices continue to retreat from their 2021 peaks. At the start of the year, hot rolled coil prices sat almost 18% below the October high. US steelmakers invest in scrap […]
Renewables/GOES MMI: US renewables on pace for 20% of electricity generation in 2021
The Renewables Monthly Metals Index (MMI) ticked up 4.5% for this month’s value. (Editor’s note: This report also includes the MMI for grain-oriented electrical steel, or GOES.) Want MetalMiner directly in your inbox? Sign up for weekly updates now. EIA: renewables account for 20% of electricity generation In its most recent Short-Term Energy Outlook, the Energy […]
Chatting with Norsk Hydro VP of Finance and Strategy Mike Stier about the infrastructure bill’s impact on aluminum
U.S. President Joe Biden on Monday signed the $1.2 trillion Infrastructure Investment and Jobs Act into law. The bill includes funding to upgrade the country’s transportation infrastructure, electric grid and more. As such, the projects will certainly need metals like steel, copper and aluminum, among others. In that vein, we recently chatted with Mike Stier, […]
Week in Review: Steel prices soften; House sends infrastructure bill to Biden’s desk; CPI rises 0.9% in October
Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner, including softening steel prices, the House’s passage of the over $1 trillion infrastructure bill and more: Check if your service center is providing you with price transparency for your steel spend. Week […]
Aircraft aluminum demand likely to come back faster than previously thought
Few would argue that semiconductor shortages have hampered automotive output. Earlier in the year, automakers temporarily shuttered factories, cutting into output. According to Toyota, it would slash worldwide vehicle production by 40% in September because of the shortage. Globally, the market lost some 2 million vehicles due to chip shortages. As a result, automotive aluminum […]
Metals supply constraints likely to linger into 2022
Several factors are likely to see base metals continue to encounter supply constraints into 2022. Chief among them is demand, said Colin Hamilton, managing director of commodities research at BMO Capital Markets. “We have never seen this level of demand impulse before,” he said in an Oct. 12 web presentation. Producers have also had difficulty […]
Copper market shows signs of distress; views differ on copper supply outlook
There doesn’t appear to be a lot of consensus around the copper market. On the one hand, according to Reuters, the International Copper Study Group (ICSG) reports the global refined copper market will be roughly balanced between supply and demand this year. Meanwhile, the group forecasts a significant supply surplus in 2022. The ICSG is […]
