Via Metal Miner
The MMI (Mensly Metals Index) index moved to the side, increasing a slight 2.83%. The prices of metals, including those of copper, steel, lithium and cobalt, have experienced significant fluctuations in recent weeks while American companies rush towards the source of materials before the prices are imposed. For example, American copper prices increased in the first quarter while buyers rushed before potential import restrictions, to tumble in early April, when China retaliated with high prices on American products.
Negotiation data show that copper term contracts have plunged 14% in a week, briefly passing below $ 9,000 / tonne on the LME. Volatility reflects a classic importing import game. According to Reuters, with American prices reaching around $ 756 / tonne above global landmarks, American stocks could jump once real tasks are triggered. For the moment, the short -term trajectory of COPPER is decreasing compared to its peak in March while the prices have lifted the pressure on the buyers.
The steel sector shows a softer correction. Price anxiety earlier this year sent us hot prices and plaques prices to multi -year summits, but they had acquitted in early April. A market report noted that the hot hot coil had slipped from its March summit (about $ 920 / m) while the steel offers came out of boiling. Meanwhile, the interior leaders of Mills are already shrinking from the chaotic rush at the beginning of March, which suggests that short -term demand has softened.
However, the American steelmakers remain in a tight situation because the “reciprocal” prices announced for the articles already protected of April 4 such as steel and aluminum under the old levies of 25%.
The metals of the battery tell a mixed story. After having increased last year, lithium prices remain under high pressure. S&P Global notes that a flood of new spru -dual flow rates and high inventory levels lead to an unprecedented excess offer. In fact, new mine projects and the restarting of operations in China have sent quotes of lithium and hydroxide carbonate lower throughout the first quarter.
S&P provides more than a drop in the second quarter of 2025. This overabundance hit lithium at downs of almost three years on certain Asian indices, which raises if it is a reset or a longer -term trend.
The Cobalt prices were just as volatile while an excess year of offer pushed the prices at nine years in January. At the end of February, the Democratic Republic of Congo imposed a four -month surprise break. Cobalt immediately increased by around 40% until March, by closing the first quarter of $ 34,000 / tonne, but the disturbance left the market on board throughout May.
The reports indicate that few traders expect the rally to last once the Congolese shipments resume. However, the Q1 rush shows how sensitive the cobalt is sensitive to geopolitical changes, while the longer term demand for EV batteries and grid storage continues to grow.
