It is not an idle question. For the last two decades, China’s infrastructure spending has been the engine of demand growth for steel, copper, and aluminum prices. So when the South China Morning Post reported that local governments sold 1.94 trillion yuan (US$289 billion) worth of bonds in June to fund infrastructure spending and boost […]
Tag: Aluminum
Aluminum MMI: Aluminum Prices Plummet to 12-Month Low
Aluminum prices continue to display a macro downtrend. Shorter-term trading ranges are forming but also breaking quickly, signaling further bearish sentiment. Simultaneously, breakouts to the downside seem to indicate a lack of bullish strength and support. Altogether, the Aluminum Monthly Metals Index (MMI) dropped by 8.06% month over month. The MetalMiner Insights platform includes global […]
Do Aluminum Smelter Shutdowns Impact Physical Delivery Premiums?
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 […]
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, […]
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, […]
Aluminum MMI: Aluminum Prices Trade Sideways After Decline
Aluminum prices declined overall in May. However, near the end of the month, they appeared to hit bottom and began to trade sideways. Conflicting macroeconomic and geopolitical factors continue to pressure markets, resulting in unclear direction and price trends. Overall, the Aluminum Monthly Metals Index (MMI) dropped by 6.21% month over month. Shanghai Lockdowns Return, […]
Rolled Aluminum Anti Dumping Suspension on China by European Commission Ends
The EU has announced an end to the temporary suspension of anti-dumping duties on rolled aluminum products into the block. The suspension was set to expire in July. The news comes hot on the heels of last week’s announcement that the UK would establish provisional duties for six months while it carries out an anti-dumping […]
UK moves to slap anti dumping duties on aluminium bar imports from China
The UK Trade Remedies Authority announced on Friday, May 20, that new measures should be put in place to “protect the UK’s aluminum extrusion industry” from dumped Chinese products.” The surprise move comes after an 11-month investigation into inconsistencies with aluminum bar imports. The TRA made the recommendation to the organization’s current Secretary of State […]
China Demand is Sagging
The bears are back in the metal markets, and one of their prime motivators is this year’s dismal prospects for China. A note in the FT’s Unhedged today explored the country’s “impossible trilemma” of achieving 5.5% GDP growth, reaching a stable debt-to-GDP ratio, and meeting zero-COVID initiatives. When you combine this with the reality that […]
