The monthly GOES MMI® fell by three points, a decrease of 1.6 percent from 245 in July, due to a range of factors.
Announced domestic surcharges increased for one major producer, but declined for the other major producer. In addition, imported volumes came in lower for July vs. June, as did average import values.
“But the news for power construction spending remains upbeat as the latest data from June saw a 3.6% increase on a seasonally adjusted basis over May,” said Lisa Reisman, managing editor of MetalMiner. “In fact, total power construction spending has risen steadily since February of this year.”
US grain-oriented electrical steel (GOES) decreased by 0.3 percent this month.
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.