As our colleague Fouad Egbaria noted this week, rising power costs in Europe, almost wholly down to the cost of natural gas, resulted in reduced output at Europe’s largest aluminum smelter, Aluminium Dunkerque Industries France. Losses there ballooned to €20 million ($22 million) during November, as natural gas prices quadrupled this year. Most aluminum smelters […]
Tag: aluminum price
This Morning in Metals: Aluminum prices rally; Rio Tinto to acquire lithium project; Biden signs proclamation adjusting steel imports
This morning in metals news: aluminum prices have rallied to close the year; Rio Tinto is acquiring a lithium mining project; and, lastly, the American Iron and Steel Institute commented on the president’s proclamation this week adjusting steel imports. See why technical analysis is a superior forecasting methodology over fundamental analysis and why it matters […]
Aluminum price moves sideways but looks to China for cues
The medium term future for the aluminum price depends on China. How many times have we heard that before? Not just for aluminum but for a host of other base metals, too. But the reality is China is running a deficit and sucking in metal from the rest of the world, where demand is already […]
Aluminum MMI: Aluminum prices move sideways, production to increase
The Aluminum Monthly Metals Index (MMI) fell for the second consecutive month, this month dropping by 3.9% as aluminum prices trended sideways. After a sharp 7.6% drop in the early days of November, aluminum prices appeared to have found a bottom. Prices then traded sideways at summer support levels. Currently, aluminum is in a period […]
Construction MMI: YTD construction spending up 7.5%; Nucor to build new rebar micro mill
The Construction Monthly Metals Index (MMI) fell by 6.1% for this month’s reading, as U.S. construction spending rose by 7.5% year over year in the first 10 months of the year. MetalMiner is hosting its final webinar of the calendar year tomorrow — Wednesday, Dec. 8 — during which the MetalMiner team will overview price predictions […]
Automotive MMI: Automotive sales remain constrained by limited supply
The Automotive Monthly Metals Index (MMI) dropped by 0.7% for this month’s reading. Stay up to date on MetalMiner with weekly updates – without the sales pitch. US auto sales Ford Motor Co. reported November U.S. sales increased by 5.9% year over year to 158,793 vehicles. Total truck sales increased by 4.6%. Meanwhile, SUV sales […]
Aluminum supply to get boost from Alcoa restart; Midwest premium eases
Recently, MetalMiner’s Stuart Burns delved into the aluminum market deficit, one in which limited aluminum supply and elevated delivery premiums have been persistent features. However, perhaps to some aluminum buyers’ relief, some supply is coming back online next year. Each month, MetalMiner hosts a webinar on a specific metals topic. Sign up for the last […]
Aluminum inventories dwindle toward zero
Longtime readers of MetalMiner may recall a number of aluminum posts we have put out over the years since the financial crisis that explore shadow stocks or the “stock and finance trade” inventory that have referred to the murky world of “off-warrant,” or non-exchange, reserves of aluminum. Those reserves are often hard to determine in […]
This Morning in Metals: Nucor to add blast and prime line at Kentucky plate mill
This morning in metals news: Nucor Corporation announced it is adding a blast and plate line at its under-construction Kentucky plate mill; aluminum prices have stabilized somewhat after plunging in late October and early November; and, lastly, job openings rates decreased in 12 states in November. MetalMiner has launched a full suite of precious metals […]
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 […]
