The Raw Steels Monthly Metals Index (MMI) increased by nearly 4.7% this month. High expectations for steel demand recovery In late March, steel demand was hit hard by the decline in automotive sales amid the COVID-19 pandemic. As automakers began to restart their operations in early May, steel prices have seen some slight improvement, as […]
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World Steel Association forecasts 18% decline in Indian steel demand
Various agencies have pegged the contraction of Indian steel demand to come in anywhere between 14-18%. A new report by the World Steel Association has said India’s steel demand would fall by 18% in 2020, even as global steel demand was expected to drop to 6.4% because of the COVID-19 pandemic, the Financial Express reported.
Global Precious MMI: Gold prices remain above $1,700/oz as U.S. states roll back COVID-19 restrictions
The Global Precious Monthly Metals Index (MMI) gained 1.7% this month.
Copper MMI: Copper price rally continues, rises to pre-coronavirus levels
The Copper Monthly Metals Index (MMI) increased 3.0% this month based on an increase in prices globally. LME copper prices continued to increase throughout May. The price finally broke $5,000/mt on June 5, meaning it, along with zinc and lead prices, is back to pre-pandemic levels.
Rare Earths MMI: DoD reverses decision to fund two U.S. rare earths separation facilities
The Rare Earths Monthly Metals Index (MMI) ticked up 4.8% this month.
Construction MMI: U.S. construction spending falls 2.9%, housing starts drop 30.2%
The Construction Monthly Metals Index (MMI) gained 2.9% this month.
Automotive MMI: U.S. automakers restart production after two-month suspension
The Automotive Monthly Metals Index (MMI) held flat this month.
COVID-19 outbreak casts shade on India’s solar power sector
The COVID-19 pandemic has taken its toll on India’s solar power program.
Aluminum price is pulled this way and that on rising trader interest, supply glut
Aluminum prices have been on an upward trend the last week or two, currently holding comfortably above $1,500 per ton for spot cash after months in the $1,400s. The market, though, is undergoing convulsions.
Greater than 6% growth could prove difficult for China to achieve ever again
Can China ever record economic growth greater than 6%? We don’t know, but if I were a betting man I’d say not. After contracting some 6.8% in the first quarter of this year, estimates vary with respect to what China’s GDP growth will be for 2020 in total. CRU expects between 2-3%, according to a […]
