Things took an ominous turn after President Trump announced he would order the US Navy to block any vessels entering or exiting the Gulf. We suspect we will see another sizable bounce in crude and a resumed slide in both precious metals and base metals as the two parties now potentially resort to replacing talks with missiles.
We had another very sloppy week in the US equity markets, although commodities fared better. All three major equity indices are now in correction territory (down 10% or more from their highs) on account of both the Iran war and the rising interest rates the conflict is generating.
Last week was one for the history books, particularly for those involved in trading precious metals in any way, shape, or form. After weeks and months of relentless price increases, the complex staged one of its most dramatic one day sell-offs on record.
We’re excited to announce that Edward Meir, a highly regarded commodities analyst, will be contributing to Aluminum Market Update (AMU) beginning in November.
Broadly speaking, the OECD is more positive on growth than what one might have thought.
Recent IEA data underscores an erratic electricity supply mix alongside sharply rising demand, with future prices signaling poor economics for operating an aluminum smelter and pointing instead to behind-the-meter generation backed by outside financing.
Looking at short line and regional movements as an indirect barometer of what's happening in aluminum rail movements.
We understand that Michigan legislators have reintroduced legislation to dramatically raise fees for disposal of solid waste. These fees, called “tipping fees” were amongst the lowest in the U.S. at just $0.36 per short ton. The proposed legislation would raise them to $5.00 per short ton and would be subject to reassessment every five years.
This week showed just how important aluminum is to the U.S. and global economy. Talks about new Trump tariffs are focusing on protecting American manufacturers from unfair competition, especially from China, while building stronger partnerships with allies like Canada. The goal is to ramp up domestic production and recycling, invest in infrastructure, and secure affordable […]