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.
“GOES pricing will likely remain under pressure due to domestic producers supplying at lower-than-historical average contract prices,” said Lisa Reisman, managing editor of MetalMiner. “It may take some time before prices rise, despite any increase in actual demand.”
US import prices may also stay under pressure to compete with domestic pricing, added Reisman.
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.