After spiking dramatically following Russia’s invasion of Ukraine, aluminum prices eased back from highs of over $3,500 per metric ton on the LME to around $3,300. The market played a game of wait-and-see over a potential negotiated outcome to the conflict and to better judge just how bad the squeeze on aluminum supply would be. […]
Tag: sanctions
Amid rising European steel prices, EU bans imports of Russian steel subject to safeguard measures
We continue to monitor the impact of the Russian invasion of Ukraine on steel prices (and other commodities). In that vein, on March 15 the European Commission, the executive body for the European Union, implemented an import ban against Russian steel products currently subject to safeguard measures. EU moves forward with steel import ban The […]
UK regulator suspends trading of Russian steelmaker Evraz
In our ongoing coverage of the Russia-Ukraine war and its impact on metal prices, the Financial Conduct Authority, the UK’s financial regulator, has suspended trading of Russian steelmaker Evraz’s shares on the London Stock Exchange. The move follows the government’s addition of Roman Abramovich to its list of sanctioned individuals. The MetalMiner team will continue […]
Russian exports hit even where sanctions are not directly applied, from energy to metal prices
What is true for oil and natural gas in the Russia-Ukraine conflict is increasingly becoming true of all commodities. Spot market oil, gas flows slow A post this week in the Economist outlines how Russia’s oil and gas exports are grinding to a halt, at least as far as the spot market is concerned. Longer-term […]
Invasion pushes hot rolled coil prices upward in Western Europe
Russia’s invasion of Ukraine has started to push up hot rolled coil prices on Western Europe’s domestic market due to concerns over availability and logistics, industry watchers and market participants said March 1. Keep an eye out for the upcoming Raw Steels Monthly Metals Index (MMI) report, which will include additional coverage of hot rolled […]
This Morning in Metals: U.S. average retail gas price dropped to lowest since 2016 last year
This morning in metals news: U.S. average gas prices fell to their lowest level since 2016 last year; the U.S. Treasury announced sanctions against Iran’s steel industry; and Ford Motor Co. released its Q4 2020 U.S. sales results. Cut-to-length adders. Width and gauge adders. Coatings. Feel confident in knowing what you should be paying for […]
Talk of Rusal sanctions ignites fears of 2018 delivery premium surge
Aluminum buyers will have read a recent announcement in Bloomberg with a sense of panic, if not déjà vu, as the specter of Rusal sanctions reportedly looms again. “Aluminum Surges on Concern U.S. May Reapply Rusal Sanctions” ran the headline, reminding buyers of the chaos that ensued in 2018. At that time, the Trump administration […]
This Morning in Metals: Import prices tick up slightly in November
This morning in metals news: U.S. import prices rose slightly in November, according to the Bureau of Labor Statistics; the Pilbara Ports Authority reported November shipping data; and, finally, there is speculation the U.S. could reimpose sanctions on Russian aluminum giant Rusal, Bloomberg reported. Cut-to-length adders. Width and gauge adders. Coatings. Feel confident in knowing […]
U.S. Puts the Squeeze on Iranian Metals Industry
Not content with putting the squeeze on Iran’s oil industry, President Donald Trump signed a new executive order last week extending existing sanctions to include Iran’s metal industry. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook According to the Financial Times, much of Iran’s non-oil income comes from metal exports, […]
This Morning in Metals: Vale Announces $2.5B Investment in Dry Iron Ore Processing
This morning in metals news, Brazilian miner Vale SA has plans to invest approximately $2.5 billion over the next five years in dry iron ore processing, Rusal reported a drop in its first-quarter profits and copper prices bounced back. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Processing Plans Miner Vale […]
