The monthly GOES MMI® registered a value of 256 in April, an increase of 8.9 percent from 235 in March.
This month’s GOES (grain-oriented electrical steel) index jumped by 21 points due to higher domestic surcharges as well as higher US import prices. The MetalMiner IndX℠-published GOES price takes into consideration a full range of global GOES price points from key GOES exporting countries, volumes and trade volumes.
“We saw some unusual activity in this month’s GOES data – essentially a global convergence on GOES prices,” said Lisa Reisman, managing editor of MetalMiner.
“What we typically see is a broad range of prices reflecting the myriad forms of GOES bought and sold throughout the world.”
Reisman continued, “This time, we saw a price convergence which appears as an outlier, particularly as we examine global trade data. We’re not sure yet what this indicates, so we will continue to watch this potential trend.”
The US grain-oriented electrical steel (GOES) coil price rose a full 9.0 percent on the month. The actual price per metric ton is available to subscribers via the MetalMiner IndX℠.
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.