Monthly GOES M3 MMI® Falls Slightly, New HTS Codes for Cores, Laminations

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Grain-oriented electrical steel (GOES) prices fell slightly last month, dropping from 199 to 193, according to the M3 MMI monthly index reading.

GOES_Chart_February_2015_FNL

As we reported last month, the US International Trade Commission created several new HTS codes to break out laminations, stacked cores and wound cores from the more generic category these materials have historically been reported in. The new HTS codes (confirmed in an email to MetalMiner from the USITC) appear below:

8504.90.9534, Laminations for incorporation into stacked cores

8504.90.9538, Stacked cores for incorporation into transformers

8504.90.9542, Wound cores for incorporation into transformers

8504.90.9546 Other

These HTS codes became effective as of January 1, 2015. MetalMiner will periodically review and publish trade data on these items as trade data becomes available (trade data can lag by up to 6 weeks).

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Meanwhile, GOES imports continued to climb during December led by imports from France and the UK.

Dec 2014 GOES imports

Chart Courtesy of Zepol

Prices for grain oriented electrical steel may be bifurcating, meaning the high grades supplied only by the Japanese mills remain in tighter supply and have increased in price. According to the TEX Report and lower grade products, those produced by the US domestic mills face greater price pressure which is why we have seen a fairly flat M3 index these past four months.

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At $2,670 per metric ton, US grain-oriented electrical steel (GOES) was down just under 3%.

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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