To say the situation in Ukraine — and its impact on metal prices _— is constantly evolving situation would be an understatement. No sooner is the position defined when new developments put previous assessments out of date. Nonetheless, we will do our best to address many of the developments as they are evolving this week. […]
Tag: Aluminum
Metal inventory levels dwindle and that could hit metal prices
While inventory levels serve as an interesting measure for fundamental analysis, that measure remains irrelevant for the short term. But when inventory levels change dramatically and over a longer time frame, they can have both an impact on price and also reflect more profound changes within the market. Ultimately, if not immediately, those factors could […]
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 […]
Aluminum MMI: Energy crisis hits production, buoys prices
The Aluminum Monthly Metals Index (MMI) rose 4.8% following two consecutive months of decline. After a sharp 7.6% drop in the early days of November, prices appeared to have found a bottom and formed a bullish “cup and handle” technical pattern around the summer support levels. Aluminum prices have broken out of the bullish pattern […]
This Morning in Metals: Aluminum prices boom to close first week of 2022
This morning in metals news: aluminum prices have surged this week; U.S. nonfarm payroll employment rose by 199,000 in December; and, lastly, electricity prices surged throughout 2021, in large part on the back of rising natural gas prices. Request a 30-minute demo of the MetalMiner Insights platform now. Aluminum prices surge Aluminum prices are on […]
This Morning in Metals: Energy costs surge; steel imports rise; aluminum price picks up
This morning in metals news: energy costs surged in 2021; U.S. steel imports picked up in November; and, lastly, aluminum prices rose during the second half of December. All the metals intelligence you need in one user-friendly platform with unlimited usage. Request a MetalMiner Insights platform demo. Energy costs rise in 2021 Energy costs surged […]
Europe’s aluminum smelters in turmoil amid rising power costs
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 […]
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 […]
