December MMI: The Last Price Trends Report of 2015… It Has No Up Arrows

MM-IndX_TRENDS_Chart_December2015_FNL-TOPVALUE100The December MMI Price Trends Report is out and it’s, well, just what we expected, unfortunately. Prices have plunged this year and last month was no exception with metals such as copper, 9% plummet, and raw steels, fell 4.2%, posting big losses after months of a smaller, more gradual slide.

Free Sample Report: Our Annual Metal Buying Outlook

The finished product sub-indexes are showing how much of a buyers’ market really exists right now. The Construction MMI fell 4.6% as rebar and steel scrap continued to be oversupplied, despite strong demand. For automotive products, the drop was even more precipitous with the Automotive MMI falling 7%. Santa was good to buyers this year.

Thinking 2016 will be better? No signs of that yet. Is it any wonder that a mined mineral, coal, is what everyone hopes they don’t get in their stocking this time of year? Miners and base metal producers are closing smelters, shutting mines and girding up to reduce capacity in 2016. The market, though, is still in a glut for most of the metals we track right now.

So buyers shouldn’t overspend, thinking they’re getting a great deal, this holiday season. The after the holidays sales could be even better.

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  • Prices always appear to collapse at steeper slope than when they rise. Having said that, the very fact that all are moving in lockstep, to me. taking whole MMI index as a leading indicator, industrial prospects appear dim, if not dark for the next 6 months to 18 months..

    Catching a falling knife from the dinner table is one thing, catching a saber falling from 30,000 feet is quite another.

    Mike Hirschberger
    Geodex Minerals.

    • We are of the same opinion, Dr. Hirschberger. The knives are felling with heavy momentum these days.

      Jeff Yoders


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