Experts anticipate that nickel prices will remain sluggish for the foreseeable future. After the LME’s (London Metal Exchange) nickel squeeze and because of the war in Ukraine, global supply continues to drop. Adding to these problems are expectations that Indonesia’s current nickel surge will further affect nickel price direction. September and October are typically high […]
Category: Industry News
Tin Price Swings in 2022 and Anticipations for 2023
After a nearly two-year-long bullish trend in the tin market, the tin price recently took a bearish turn. Fed by the pandemic, the tin price reached an all-time high. However, buyer exhaustion soon overtook the market, leading to price drops. Like many metals, tin remains volatile for the moment, having bottomed out in July. But […]
Recession Fears Ramp Up Pressure on Industrial Metals Market
Experts agree that a global recession is now a foregone conclusion. Though they continue to argue about the potential extent of the damage and which countries may evade repercussions, few see any way to avoid a downturn. As usual, one of the first markets to react to the growing concern is industrial metals. Back on […]
Aluminum Market After Another Fed Rate Hike
Aluminum supply continues to shrink thanks to smelter shutdowns caused by ongoing energy shortages. Aluminum prices enjoyed a brief rebound following the Fed’s latest rate hike of three-quarters of a point. However, in the short term, aluminum prices remain in a downward trend. Earlier this week, MetalMiner noted how smelter shutdowns in China and Europe […]
HRC and CRC Steel Prices Stagnate Amid Energy Crisis
Hot rolled coil steel prices in Western Europe remain largely unchanged since early September. However, as various market participants told MetalMiner, this is despite attempts by at least one steelmaker to increase them According to our sources, multiple factors continue to suppress demand for flat rolled products. These include a slowdown of public works programs […]
Copper Prices: Firming of Resistance and Demand Zones
The copper industry showed resilience through many market challenges throughout 2022. Despite dropping prices and demand, copper continues to fight against obstacles ranging from Europe’s energy crisis and smelter shutdowns to China’s property crisis and shrinking demand. As MetalMiner noted earlier this month, copper markets do remain particularly volatile. And while prices traded sideways in […]
Low-Carbon Demand Could Positively Impact US Steel Prices
The Biden-Harris Administration today announced that they would “prioritize the purchase of key low-carbon construction materials, covering 98% of materials purchased by the Federal government.” As steel plants shutter around the world, this is a boon to U.S. manufacturers concerned about dropping steel prices. The announcement highlights the latest section of the “Buy Clean” initiative, […]
Global Precious Metals MMI: Gold Hits Yearly Low
The September Global Precious Metals MMI (Monthly Metals Index) moved sideways, dropping by just 1.8%. Despite the slight loss, month-over-month, gold prices hit lows not seen in around two years. MetalMiner’s FREE September webinar is tomorrow! Learn how to gauge metal prices and explore battery metal pricing. Sign up here! Gold Hits Yearly Low Amid […]
Metal Production, Copper Extraction, and the Upcoming Price Transformation
At the start of this year, Rio Tinto PLC and the Mongolian Government announced they had reached an historic agreement with copper and metal manufacturing. The announcement came after a long tussle over the $6.93 billion expansion project for the Oyu Tolgoi copper-gold mining project. Last week, Rio Tinto agreed to buy out Turquoise Hill […]
Construction MMI: Industrial Metal Supplies Low, Prices High
The September Construction MMI traded sideways, falling a modest 2.56%. However, this trend will likely not continue. Supply and energy shortages continue to weigh heavily on the industrial metal and construction industries. Strains on US Construction Smelter shutdowns and industrial metal slow-downs in China were not kind to the Construction MMI last month. Back in […]
