grain oriented electrical steel price

Why did LME aluminum prices break $2,000 per metric ton? Why have nickel price rises (and our stainless steel price index) suddenly ground to a halt? And why the heck should you be watching the US dollar closely?

Those questions – and many more – are all handily answered in one place, the Monthly MMI Report for August 2014.

We’ve gone through our 10 metals price indexes for metals groups and industry sectors, and pulled out the metal trends that matter for industrial metal purchasing organizations and other buyers.

Metal Price Trends Trivia Night

It’s August, and admittedly some metals sectors seem to have succumbed to the dog days of summer. However, our Monthly MMI Report is rife with explanations of underlying fundamentals to price movements, including these great bits of trivia (interesting, we hope, especially to metals purchasers):

  • How much will total North American light vehicle aluminum consumption increase by 2015?
  • How much less expensive is aluminum cable over copper cable of comparable capacity these days?
  • What are the 3 main factors that led to a decline in domestic grain-oriented electrical steel (GOES) prices, according to Elise Woolfort, VP of Supply Management at ABB, the largest US domestic GOES buyer?

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MetalMiner Monthly GOES (Grain-oriented electrical steel) Price Index March 2013

The monthly GOES MMI® registered a value of 235 in March, a decrease of 0.8 percent from 237 in February – subsequently making the chart’s trend-line appear like a child’s rendering of a seagull soaring above the Jersey Shore.

GOES surcharges slipped slightly from the previous month, as did other stainless steel surcharges. Import volumes were the lowest since June 2012.

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MetalMiner Grain Oriented Electrical Steel Price Index February 2013 graph

The monthly GOES MMI® shot up 42 points moving from 195 to 237 – an increase of 21.5 percent – largely on the back of rising import prices.

But whether that increase really has much to do with demand remains uncertain.

It likely has more to do with comparatively low domestic producer pricing during Q4 and imports of higher grade materials from countries like Japan. Industry participants still see little effect on transformer sales yet, based on increased housing starts and construction spending.

In fact, construction spending remains a mixed bag to some extent, though overall construction spending increased 6.6% year over year, according to Gerdau Market Update. Apartments, manufacturing and lodging posted the biggest gains in private sector construction, while government spending continued to fall.

Though much has been made of a housing recovery, Gerdau Market Update points to the difference between the years 2005 and 2012. In 2005, residential spending came in at $348 billion, and even though the market has improved since the crash, 2012 residential expenditures only reached $80 billion.

today's metal prices - MetalMiner IndXAccording to MetalMiner IndX℠ data, US grain-oriented electrical steel (GOES) coil prices increased 1.1 percent over the past month, the third straight increase in the past couple months.

The GOES MMI® collects and weights 1 global grain-oriented electrical steel price point to provide a unique view into price trends over a 30-day period. For more information on the GOES MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

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Despite rapidly deteriorating US grain-oriented electrical steel (GOES) surcharges, as well as still-falling HRC prices, many would expect the MetalMiner monthly GOES index reading to decline — but instead, it climbed 10.5 percent, moving from 228 back up to 252 (at or near August 2012 levels).

Just last month, MetalMiner reported that buyers here in the US believed prices could still fall anywhere between 10 and 30 percent.

So what happened?

The MetalMiner GOES index includes a myriad of elements that comprise the index. In fact, we constantly examine not only the underlying metals such as HRC and domestic surcharges, but also global trade data. And here, we see quite a different story – one in which the average GOES price increased considerably from multiple countries.

grain-oriented electrical steel (GOES) price index 2012

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On the weekly Renewables MMI®, the silicon price rose 1.6 percent to finish as the week’s biggest mover.

Chinese cobalt cathodes prices held steady from the previous week, and neodymium and Chinese steel plate both did not move last week.

Japanese, Korean and Chinese steel plate prices all held pat as well, while the price of US steel plate fell 0.9 percent over the past week. This was the third week in a row of declining prices for US steel plate.

The price of US grain-oriented electrical steel (GOES) dropped 12 percent for this month.

The Renewables MMI® collects and weights 8 metal price points used extensively within the renewable energy industry to provide a unique view into renewable energy metal price trends. For more information on the Renewables MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

The monthly Renewables MMI® registered a value of 70 in October, a decrease of 5.4 percent from 74 in September.

The monthly renewables index fell as a result of declining GOES (grain-oriented electrical steel) prices, silicon, neodymium and US steel plate prices.

Renewable Energy Sector Metals Price Index

Ironically, global plate prices from China, Japan and Korea all increased. US plate prices have fallen in tandem with price drops on HRC and CRC.

Meanwhile, GOES prices continued to soften despite rising stainless surcharges. “Many believe the GOES price will drop further,” said Lisa Reisman, managing editor of MetalMiner. “Certainly, without legislation renewing the wind tax credit, we suspect the renewables index may continue to fall.”

The Downward Dogs – Neodymium, GOES Prices

Neodymium prices dropped by 11.4 percent this month. The US grain-oriented electrical steel (GOES) price saw an 11.8 percent decline. A 4 percent drop hit the US steel plate price. Silicon prices dropped 8 percent last month.

The Upwardly Mobile – Cobalt, Steel Plate Prices

Chinese steel plate finished the month after gaining 4.3 percent. Chinese cobalt cathodes gained 1.1 percent. The price of Korean steel plate rose 1.7 percent, and the price of Japanese steel plate increased 0.8 percent.

The Renewables MMI® collects and weights 8 metal price points used extensively within the renewable energy industry to provide a unique view into renewable energy metal price trends over a 30-day period. For more information on the Renewables MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

Neodymium’s 9.2 percent decline made it this week’s biggest mover on the weekly Renewables MMI®. The price of US grain-oriented electrical steel (GOES) dropped 12 percent this month, confirming many market-watchers’ forecasts.

With a 3.1 percent climb, Chinese steel plate claimed the week’s second-largest move. Chinese cobalt cathodes saw its price rise 1.3 percent over the past week. Silicon traded sideways last week.

The price of US steel plate fell 0.6 percent over the past week. This was the third week in a row of declining US steel plate prices.

The week finished with no movement for Japanese steel plate, and prices for Korean steel plate closed flat.

The Renewables MMI® collects and weights 8 metal price points used extensively within the renewable energy industry to provide a unique view into renewable energy metal price trends. For more information on the Renewables MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

After drifting 4.2 percent, Chinese steel plate won out as the biggest mover on the weekly Renewables MMI® this week.

The price of silicon dropped 2.1 percent this week, closing out the third consecutive week of falling prices. Chinese cobalt cathodes fell 0.9 percent over the past week as well. Neodymium prices remained unchanged for the week.

The week finished with no movement for Japanese steel plate. Korean steel plate prices held steady from the previous week at below $1,000 per metric ton. The past week saw Chinese steel plate close with a 4.2 percent decline. The price of US steel plate fell 1.2 percent over the past week as well. This was the fourth week in a row of declining prices.

The price of US grain-oriented electrical steel (GOES) fell 5.8 percent this month.

The Renewables MMI® collects and weights 8 metal price points used extensively within the renewable energy industry to provide a unique view into renewable energy metal price trends. For more information on the Renewables MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

US steel plate dropped 0.5 percent on the Renewables MMI®, making it the week’s biggest mover on the index. US grain-oriented electrical steel (GOES), also part of the Renewables MMI®, updates monthly during the last calendar week of the month on the MetalMiner IndX℠. Closing above $960 per metric ton, Korean steel plate remained unchanged for the week. At above $980 per metric ton, the week finished with no movement for Japanese steel plate.

Chinese renewables prices were flat for the week. Chinese cobalt cathodes remained essentially flat from the previous week at below $40,000 per metric ton. Silicon prices held steady from the previous week above $2,300 per metric ton. Following a steady week, prices for neodymium closed flat in the mid-$113,000 per metric ton range. At below $770 per metric ton, the week finished with no movement for Chinese steel plate.

The Renewables MMI® collects and weights 8 metal price points used extensively within the renewable energy industry to provide a unique view into renewable energy metal price trends. For more information on the Renewables MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

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