Metals & Mining


May 20, 2026

Metals & Mining Weekly: Fortress Europe, Build America – Twin Policy Tailwinds Meet a Wobbling Demand Signal

By Gordon L. Johnson II

LME Metal Prices Mostly Higher vs. Previous Close: Today, Copper -1.09% to $6.07/lb; aluminum +0.30% to $1.63/lb; nickel +1.05% to $9.56/lb; zinc -0.19% to $1.63/lb; lead -0.01% to $1.10/lb; gold +1.39% to $4,545/oz; silver +3.47%…

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April 15, 2026

Metals & Mining Weekly: Nothing Can Stop the “US HRC Spot Price Momentum Train”… at Least for Now

By Gordon L. Johnson II

LME Metal Prices Surge Higher vs. Previous Close: Yesterday, Copper +2.16% to $6.02/lb; aluminum +1.19% to $1.65/lb; nickel +3.03% to $9.25/lb; zinc +0.72% to $1.57/lb; lead +0.09% to $1.10/lb; gold +2.14% to $4,842/oz; silver +5.22% to…

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March 31, 2026

Metals & Mining Weekly: Supply Tightness Peaking, War Premium Enters the Equation

By Gordon L. Johnson II

LME Metal Prices Mostly Higher Today vs. Previous Close: Today, Copper +0.94% to $5.57/lb; aluminum +0.94% to $1.62/lb; nickel -0.39% to $9.02/lb; zinc +0.66% to $1.55/lb; lead +0.35% to $1.08/lb; gold +3.70% to $4,678/oz; silver +7.22%…

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March 11, 2026

Metals & Mining Weekly: Framing the Setup Into 1Q’26 Steel Earnings Results

By Gordon L. Johnson II

LME Metal Prices Mixed Today vs. Previous Close: Today, Copper +1.34% to $5.92/lb; aluminum +2.25% to $1.66/lb; nickel -1.29% to $9.32/lb; zinc +0.11% to $1.61/lb; lead -0.17% to $1.10/lb; gold -0.23% to $5,180/oz; silver -1.90% to…

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March 2, 2026

Metals & Mining Weekly: Nucor Spot Prices Tops $1,000/ton; US Supply Surges to >4yr High

By Gordon L. Johnson II

LME Metal Prices Mostly Lower vs. Previous Close: Today, Copper -1.92% to $5.92/lb; aluminum +0.94% to $1.57/lb; nickel -2.00% to $9.32/lb; zinc -0.48% to $1.61/lb; lead -0.35% to $1.10/lb; gold +0.60% to $5,311/oz; silver -6.52% to…

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February 18, 2026

Metals & Mining Weekly: U.S. Mills Maintain the Upper Hand, But Price Hikes Slow to Stick

By Gordon L. Johnson II

LME Metal Prices Flat-to-Higher vs. Previous Close: Today, Copper +2.35% to $5.83/lb; aluminum flat at $1.53/lb; nickel flat at $9.20/lb; zinc flat at $1.59/lb; lead +0.86% to $1.09/lb; gold -0.23% to $5,046/oz; silver +6.24% to $78.11/oz;…

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February 10, 2026

Metals & Mining Weekly: U.S. Mills Keep Pushing – But Spreads Are Doing the Talking

By Gordon L. Johnson II

LME Metal Prices Mostly Lower vs. Previous Close: Today, Copper -0.36% to $5.92/lb; aluminum -0.28% to $1.54/lb; nickel -0.39% to $9.16/lb; zinc -0.89% to $1.60/lb; lead +0.86% to $1.09/lb; gold -0.23% to $5,046/oz; silver -1.60% to…

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February 2, 2026

Metals & Mining Weekly: U.S. HRC Lead Times Edge Lower w/ U.S. HRC Spot Prices Near Multi-Month High = Seasonality ‘Headwinds’ Nearing?

By Gordon L. Johnson II

LME Metal Prices Mostly Lower vs. Previous Close: Today, Copper -3.41% to $5.94/lb; aluminum -5.12% to $1.55/lb; nickel -3.8% to $9.15/lb; zinc -3.92% to $1.63/lb; lead -1.4% to $1.09/lb; gold -4.45% to $4,676/oz; silver -8.26% to…

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January 27, 2026

Two of the “Big Three” U.S. Steel Mills Reported Earnings Yesterday… and Wall Street Appears Worried

By Gordon L. Johnson II

Bottom Line: Yesterday, before the open, Steel Dynamics (STLD; NC) reported results that missed on the top line and generated just $84mn of Q4 free cash flow – far short of the ~$210mn the market…

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January 22, 2026

Metals & Mining Weekly: Metals Mostly Firmer as U.S. Sheet Tightens, Plate Lags, and Iron Ore Slips

By Gordon L. Johnson II

LME Metal Prices Mostly Higher vs. Previous Close. Copper +0.17% to $5.79/lb; aluminum +0.32% to $1.56/lb; nickel +0.31% to $9.49/lb; zinc +0.61% to $1.58/lb; lead +0.11% to $1.11/lb; gold -0.20% to $4,822/oz; silver +0.58% to $93.59/oz;…

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January 15, 2026

Metals & Mining Weekly: HRC vs. Prime Spread Widens Further in January

By Gordon L. Johnson II

LME Metal Prices Surged Higher Yesterday. Copper -0.13% to $6.00/lb; aluminum +1.22% to $1.61/lb; nickel +0.59% to $9.56/lb; zinc +0.67% to $1.59/lb; lead +0.33% to $1.13/lb; gold +0.87% to $4,626/oz; silver +6.70% to $92.78/oz; platinum +2.57%…

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January 8, 2026

Metals & Mining Weekly: Prices Up, Reality Down – Markets Bid on Hope, Not Demand

By Gordon L. Johnson II

LME Metal Prices Mostly Higher Yesterday. Copper -2.55% to $5.86/lb; aluminum +1.20% to $1.58/lb; nickel +4.76% to $9.85/lb; zinc +0.06% to $1.57/lb; lead +0.55% to $1.14/lb; gold -0.79% to $4,459/oz; silver -3.34% to $78.55/oz; platinum -5.67%…

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December 19, 2025

Metals & Mining Weekly: US HRC Steel Prices Hold Firm Near $900/st as Mill Discipline Keeps Lead Times Steady

By Gordon L. Johnson II

LME Metal Prices Mostly Higher Yesterday. Copper +1.28% to $5.33/lb; aluminum +0.40% to $1.41/lb; nickel +1.24% to $7.53/lb; zinc +0.53% to $1.48/lb; lead +0.27% to $1.08/lb; gold -0.21% to $4,329/oz; silver -1.39% to $65.34/oz; platinum +1.28%…

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December 11, 2025

Metals & Mining Weekly: Our Take Heading Into Next Week’s Q4 Steel Updates, HRC vs. Prime Scrap Spreads Widen Further, & Import Arbitrage Risk Back “in Play”

By Gordon L. Johnson II

LME Metal Prices Mostly Higher vs. Yesterday’s Close. Copper +0.74% to $5.29/lb; aluminum +0.47% to $1.41/lb; nickel -0.02% to $7.66/lb; zinc +0.10% to $1.48/lb; lead +0.82% to $1.10/lb; gold -0.40% to $4,212/oz; silver +0.71% to $62.25/oz;…

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December 4, 2025

Metals & Mining Weekly: U.S. Plate Market Celebrates Producer Price Increases & HRC “Price Hike Parade” Appears Set to Continue (bullish)

By Gordon L. Johnson II

LME Metal Prices Mostly Lower vs. Yesterday’s Close. Copper -1.15% to $5.19/lb; aluminum +0.72% to $1.41/lb; nickel +0.02% to $7.75/lb; zinc +0.42% to $1.46/lb; lead +0.07% to $1.10/lb; gold -0.11% to $4,198/oz; silver -1.66% to $57.53/oz;…

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