US Construction Decks Grain-Oriented Electrical Steel (GOES) Price

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chart of historical grain-oriented electrical steel GOES prices

Lower average grain-oriented electrical steel (GOES) import prices and slightly lower domestic GOES surcharges drove the monthly GOES MMI® down by 9 points, a 3.7 percent drop.

Compare with last month’s trends – here’s our free August MMI® Report.

“The headline news suggests power construction spending has held steady [see chart below],” said Lisa Reisman, managing editor of MetalMiner. “But other construction spending, particularly non-residential construction spending, continues to struggle as June’s numbers fell 1.7% at a seasonally adjusted (SA) rate in June after increasing 0.7% in May, according to Reed Construction Data.”

chart of US power construction spending september 2013

Source: ycharts.com

The overall construction sector has likely weighed heavily on GOES demand, though we note the trend of rising import levels for July and August.

The US grain-oriented electrical steel (GOES) coil price itself dropped 3.8 percent for September.

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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.

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