This morning in metals news: Honda announced it will suspend most of its North American automotive production; copper has leveled off over the last couple of weeks; and service center shipments declined in February. The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets […]
Tag: Copper
Copper MMI: Traders take profits after copper price surges to 10-year high
The Copper Monthly Metals Index (MMI) picked up by 12.6% for this month’s reading, as the copper price surged to a 10-year high last month. The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies. Copper price rise The copper price […]
This Morning in Metals: DOC finds dumping, subsidization of common alloy aluminum sheet
This morning in metals news: the Department of Commerce said imports of common alloy aluminum sheet from 18 countries are being dumped and benefiting from subsidies; Federal Reserve Governor Lael Brainard this week commented on the US’s economic outlook; and the copper price has retraced somewhat over the last week. DOC makes common alloy aluminum […]
This Morning in Metals: Senate confirms new secretary of commerce
This morning in metals news: the American Iron and Steel Institute (AISI) offered positive comments on the heels of the confirmation of the secretary of commerce; UK unions worry about the potential loss of thousands of jobs; and the Biden administration is taking a step back in the process toward an Arizona copper mine. AISI […]
This Morning in Metals: US construction spending starts strong in January
This morning in metals news: US construction spending picked up in January; meanwhile, the Federal Register published the text of President Joe Biden’s latest executive order; and, lastly, the copper price came back down to close last week. US construction spending rises in January US construction spending picked up to a seasonally adjusted annual rate […]
Copper price continues to rise as supply tightens
The copper price has resumed its rise this month after taking a brief pause in January. Meanwhile, on the supply side, tightening began last year and could exacerbate in the year ahead. Strong demand from China, lack of new mine investment and enthusiasm about copper’s role in the renewables revolution are all contributing to the […]
This Morning in Metals: Copper price rally continues
This morning in metals news: the copper price rally is going strong; meanwhile, Rio Tinto released its 2020 Annual Report; and, finally, Norilsk Nickel reported a fatal accident at one of its facilities. Copper price rally After a January lull, the copper price rally has resumed in February. The LME three-month copper price closed Friday […]
Copper price rises as the metal’s bull story continues
Copper seems to be a one-way bet the last six months. The copper price has risen from a low of $4,371 per metric ton in March last year to $8,631 per metric ton Friday on the LME. According to Reuters, Goldman Sachs and Citi are doubling down on their bull calls for the copper market. […]
Renewables/GOES MMI: US renewable energy electricity generation to double by 2050
The Renewables Monthly Metals Index (MMI) rose by 4.4% this month, as the Energy Information Administration released a forecast on renewable energy. (Editor’s note: This report also includes the MMI for grain-oriented electrical steel, or GOES.) Renewable energy growth in the US US electricity generation from renewable energy sources is forecast to double over the […]
This Morning in Metals: December steel shipments jump 4.4%
This morning in metals news: December steel shipments rose by 4.4%; meanwhile, miner BHP announced plans to work with Japanese steelmaker JFE to study how to reduce greenhouse gas emissions from the steelmaking process; and, lastly, the copper price has bounced back after a January lull. Steel shipments rise in December US steel shipments rose […]