Metal Prices Bounced Upward (Mostly) in the October MMI

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Our monthly MMI saw a boost in October as three metals tied for the biggest gain and markets seemed to tighten as manufacturers started to make decisions for their end of year and early 2017 spending.

MM-IndX_TRENDS_Chart_October2016_FNL-TOPVALUE100

There seemed to be a Q4 tightening across most of the metal markets we follow. Sure, the Rare Earths and Renewables MMIs were flat as a board yet again, but Copper, Aluminum, Stainless and Raw Steels all saw strong gains. Our Global Precious MMI gained again but almost immediately suffered a pullback after talk of a Federal Reserve interest rate hike in December and renewed strength from the U.S. dollar.

MetalMiner Price Benchmarking: Current and Historical Prices for the Metals You Buy

As always, we exercise caution when buying. Today’s gain could be tomorrow’s loss.

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