gui yong nian/Adobe Stock
The August Monthly Metal Index (MMI) report is in the books.
This month saw all 10 of our MMI subindexes posting declines. U.S. steel prices continue to hover around seven-year highs, but the rest of the metals complex (more or less) has been down of late.
Here are a few highlights from this month’s round of MMI reports:
- U.S. auto sales were down for many major automakers last month, but Fiat Chrysler saw its sales grow 6% year over year.
- U.S. construction spending dropped 1.1% in June from the previous month.
- U.S. steel prices continue to be at seven-year highs, but price momentum slowed last month and many forms of steel are trading sideways.
- Copper prices have been sliding for the past couple of months, but a labor standoff at BHP Billiton’s Escondida mine in Chile could offer price support (if the union at the mine ultimately goes on strike).
Read about all of the above and much more by downloading the August 2018 MMI Report below: