Month-over-month, the Automotive MMI (Monthly Metals Index) dropped by 3.03%. While the automotive market continued to improve overall, bearish pressure on certain steel prices like hot-dipped galvanized steel, ultimately forced the index down. Experts anticipate this bearish pressure to continue impacting both steel prices and automotive manufacturing in the short term. Despite this, the automotive […]
Jennifer Kary
Rare Earths MMI: Prices Drop, Huge Rare Earths Reserve Discovered in Wyoming
Month-on-month, rare earths prices exhibited sharp downward movement. While weaker downstream demand could potentially prove one culprit in the dropping prices, another potential factor is an increase in global rare earth production outside of China. If true, China could find itself bumped down the totem pole in terms of rare earth magnets dominance. Meanwhile, China’s […]
Aluminum Market Projections for 2024: Stability Amidst Economic Uncertainty?
Recently, I had the pleasure of interviewing Hydro, a green aluminum producer with multiple plants and locations around the globe. Mike Stier, Hydro’s Vice President of Finance, and Duncan Pitchford, President of Hydro Aluminum Metals in the U.S. (whom I’ve had the pleasure of interviewing before), sat down to discuss Hydro’s views on aluminum performance […]
Construction MMI: U.S. Construction Industry Enters 2024 Lacking Skilled Craftsman
The Construction MMI (Monthly Metals Index) moved in a relatively sideways trend, only budging up 0.65%. Steel prices continuing to flatten out, along with bar fuel surcharges dipping in price, kept the index from breaking out of the sideways movement we’ve witnessed since December. As the index enters 2024, U.S. construction news continues to focus […]
Automotive MMI: Hot-Dipped Galvanized Prices Flatten, EV Market Moving Too Quickly?
All components of the Automotive MMI moved sideways or down month-on-month. Moreover, January saw prices flatten out across the steel market, causing hot-dipped galvanized steel prices to trend close to support zones. Meanwhile, China’s wavering economy continues to prove a concern for global markets because the country is such a large steel demand driver. Many […]
Renewables/GOES MMI: U.S. Transformer Shortage Pain Continues into 2024
The Renewables index began 2023 fairly sideways. However, it broke that trend in Q3 and Q4 when it edged downward. Numerous components of the index, including silicon and cobalt, experienced market oversupply. This caused prices to drop and pulled the index down with it. Grain oriented electrical steel also experienced market volatility in Q3 and […]
Construction MMI: Construction News Puts Infrastructure on Top for 2023
After a mostly sideways 2023, the Construction MMI (Monthly Metals Index) also entered 2024 sideways with only a small 2.5% increase. Furthermore, all index components except for European aluminum commercial 1050 sheet and shredded scrap steel moved in a sideways price trend. Meanwhile, construction news sources indicate that infrastructure projects proved to be the top-performing […]
Automotive MMI: Index Rises & Outlook for 2024
While the index remained sideways for most of 2023, the automotive industry itself witnessed its fair share of shifts. For instance, the UAW strike forced numerous changes on the automotive industry while impacting automobile sales and production to varying degrees. Meanwhile, steel price hikes also caused the overall index to fluctuate and shift. All in […]
Rare Earths MMI: China Bans Export of Rare Earth Metals Technology
Overall, 2023 proved volatile for the Rare Earths MMI, with the sector experiencing sharp declines at the beginning of the year. This mainly stemmed from decreased Chinese production, supply chain disruptions, and the numerous nations seeking non-Chinese sources of rare earth metals. During Q2 and Q3, price action remained sideways, but global supply dynamics continued […]
Green Aluminum Market: Insight From Hydro’s Duncan Pitchford
Aluminum supply remains a major topic of discussion among metal buyers. Traditional smelting and metal manufacturing remain the most widely used metal manufacturing methods worldwide. However, “green” metal initiatives have witnessed growth in recent years. Recently, I interviewed representatives from Norsk Hydro, a recycled and green aluminum company based out of Norway, to gain insight […]
