Similar to the past six months, the Automotive MMI for March was again pulled in multiple directions. Hot dipped galvanized prices rose again, following the same trend as HRC and CRC. However, Chinese lead prices dropped significantly, pulling the index down. This was mainly due to car sales shrinking within China (the world’s top market). […]
Jennifer Kary
Rare Earths MMI: China Losing Grip on Rare Earths Control
The Rare Earths MMI (Monthly MetalMiner Index) dropped a staggering 11.22% this past month. Industrial production within China proved slow in January. This significantly affected the index, as China remains the source of many rare earth oxides. And with numerous countries searching for non-Chinese rare earth supplies, the Chinese-sourced parts of the index fell greatly. […]
High Energy Costs: Can Hydro Power Help Alleviate Lower Smelter Output?
Recently, I had the pleasure of interviewing Trond Gjellesvik and Charlie Straface of Hydro. Hydro is a Norwegian company specializing in green energy and low-carbon aluminum products. It is based out of Oslo, but harbors multiple business locations around the globe. I was curious to learn how the company’s efforts correlated with the current price […]
Construction MMI: Bar Fuel Surcharges Drop, Steel Prices Edge Up
The Construction MMI (Monthly MetalMiner Index) traded sideways, rising by just 1.97%. The index was pulled in multiple directions month-over-month, resulting in a lack of major movements. For instance, bar fuel surcharges dropped, while steel rebar, h-beam steel, and sheet aluminum all went up. This recent rise in steel prices has left the index facing […]
Automotive MMI: Car Inventories Return, but Consumers Do Not
The Automotive MMI (Monthly MetalMiner Index) rose slightly higher than in previous reports. Month-over-month, the index went up by 5.08%. Automobile inventories may be rising, but consumers are much more reluctant to purchase than they were six months ago. With interest rates still climbing, more and more consumers continue to steer away from vehicle purchases. […]
Renewables/GOES MMI: Sideways Trend Continues, “Green Steel” Gains Momentum
The Renewables MMI (Monthly MetalMiner Index) traded sideways in January, dropping a mere 1.28%. A significant drop in grain oriented electrical steel had the largest impact on the index month-over-month. Other parts of the index, particularly steel forms, managed to hold up better, trading sideways or rising slightly. Overall, the world continues to push for […]
Rare Earths MMI: Different Countries Racing for Global Rare Earth Dominance
The Rare Earths MMI (Monthly Metals Index) rose considerably over the past month, climbing by a total of 7.05%. The primary factor influencing the rare earth price forecast over the past several months was zero-COVID. Now, the focus is on those restrictions being lifted. Currently, China reports that the country’s COVID cases are dropping. China’s […]
Aluminum Inventories Still Historically Low, Prices Edge Upward
As with many base metals, aluminum prices rose at the beginning of January. While it is true that China raising aluminum export taxes could have impacted aluminum prices, the market has witnessed somewhat volatile conditions since late September of 2022. And though prices are nowhere near their March 2022 historic rally levels, they still remain […]
Grain Oriented Electrical Steel Demand Expected to Keep Growing
No matter where in the world you go and what energy source you’re using, energy transfer requires transformers. Be it a nuclear power facility, a power plant running on natural gas, a wind field, or a plant running on hydropower. The energy generated in these facilities cannot light up homes, businesses, and schools without transformers. […]
Is the Face of the Steel Industry Changing?
After weathering a bumpy ride throughout 2022, one of the world’s most traded commodities still isn’t out of the woods just yet. Though steel prices rose across the board over the past few weeks, mills around the world remain shuttered, and demand continues to fluctuate. Zero-COVID and limited energy across places like Europe are just […]
