The August MMI Report: A Down Month for MMI Subindexes

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Metal Prices
steel
gui yong nian/Adobe Stock

The August Monthly Metal Index (MMI) report is in the books.

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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).

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Read about all of the above and much more by downloading the August 2018 MMI Report below:

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