MetalMiner tends to field many types of questions from metal buying organizations. But many of the questions tend to center around whether or not we track a very specific metal price point within our MetalMiner IndX℠.
By something specific, I mean we receive requests like this one (from a Fortune 500 company): Do you have a metal price index or a metal price for the following specific metals: magnet wire and aluminum magnet wire?
If you’ve been living under a rock, then you’re probably the only one who hasn’t heard about global nickel prices skyrocketing to new highs over the past two months – and that if you’re a manufacturing company and not hedged up, you may be in trouble.
MetalMiner’s latest metal price report, the Monthly MMI® for May, goes into the latest spike in the nickel price, making the Stainless MMI® specifically the biggest mover of all 10 MMI indexes.
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Our precious metals price index makes history for the second time.
MetalMiner’s monthly Global Precious Metals MMI® clocked in at 88 in January, a 2.2 percent drop from 90 in December, matching the index’s lowest reading of all time (first reached in July 2013).
Plummeting gold bullion prices in the US and China, along with a dip in the US silver price, nearly single-handedly drove the monthly index down. However, palladium prices in the US and Japan dropped as well – a two-month trend.
This month, we’ve taken even more of a deep-dive into the ferrous and non-ferrous metal market price trends.
The real question is: Why not?
Applying our forecasting capability, we give readers more technical analysis behind aluminum, copper, steel and stainless/nickel price movements. We’re now able to provide 8-week forecasts in the the aforementioned markets (learn how to get them here), and that makes us ideally positioned to give you the outlooks you need for 2014.
The reasons behind the wheels of the base metals complexes coming off. Raul de Frutos, MetalMiner’s lead forecasting analyst, contributed what he sees in the cards for aluminum, copper, steel and nickel.
A current index rise for our Raw Steels MMI (and coincidentally, the Construction MMI), but tempered with our Debbie-Downer reasons for why there’s not a whole lot of optimism in the sector
A bunch of activity in the grain-oriented electrical steel (GOES) sector, namely why there appeared to be such a crash in December’s index reading and what AK Steel and Allegheny Technologies have to do with that market
A bevy of other sector coverage and analysis, including but not limited to Rare Earths, Automotive, and Precious Metals
Alright, no more from me – get the report now! Download it FREE below:
Here’s just a selection of the gems you can expect to read in our FREE report this month:
“The Aluminum MMI® now has the distinction of maintaining the longest-running price trend (up) of all 10 indexes – four months!”
“In many respects, copper is Alfred Hitchcock’s “Psycho”! On the one hand, the metal reacts to the whims of the market. And on the other hand, copper prices react to actual supply and demand.”
“We heard many people calling for rising steel prices in this last quarter but the raw material market does not reflect that. US steel price indices have moved up slightly in the past three weeks, but it appears to be more of a dead cat bounce.”
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If you buy direct materials – industrial metals, specifically – you’ve likely seen prices generally rising over the past month.
Yep, we’ve seen that, too. But of course you don’t want to know where prices have been; you’d like some insight into where they’re going.
Luckily for you, MetalMiner’s latest Monthly MMI® report, including historical metal price data trends for 10 industrial sectors and headline analysis by our managing editor Lisa Reisman, will help your company shed light onto the future direction of these markets.
Download the Monthly MMI® for September FREE:
September MMI® Highlights
What the No. 1 factor will be for future health of the stainless markets
What’s happening with aluminum price premiums lately
Which individual index to watch most closely in the next quarter, and why
Many elements of these approaches apply across metals sectors. That’s why if you’re in a metals sourcing, procurement or supply chain function and need an edge, our Monthly MMI® report is an ideal resource.
The report is a key starting component for:
Better timing your metal purchases
Gauging expected volatility
Creating more competitive bids to customers, or making better use of financial instruments to consistently generate cost savings and cost avoidance over time, rather than relying upon subjective opinions and best guesses as to when prices might rise or fall
Don’t worry, metal buyers – MetalMiner hasn’t gotten caught up in the Libor scandal as others have.
The WSJ reported that “CRU officials say they hope the move [to audit their metal price data providers] will lend it added credibility at a time of concern about indexes. Three banks in Europe have agreed to pay over $2 billion in settlement fees to U.S. and U.K. regulators after they were caught manipulating the London Interbank Offered Rate, or Libor, the interest rate banks charge to borrow from each other.”
Our old friend Josh Spoores, a Pittsburgh-based steel analyst for CRU, told the WSJ that “the company started receiving more requests for improved transparency after the Libor scandal.”
ArcelorMittal, US Steel Corp and Nucor Corp all stopped using CRU’s index, since they felt it unfairly reflected the actual market for steel. Which begs the question: perhaps it’s time to branch out and try new, independent metal price indexes?
Check out current steel and raw materials price report this week: