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.
According to MetalMiner IndX℠ data, US grain-oriented electrical steel (GOES) coil prices increased 1.1 percent over the past month to end up at $3,270 per short ton, 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.