The Rare Earths MMI (Monthly Metals Index) experienced a pretty significant drop month-on-month, falling 24.73%. Save for cerium oxide, all components of the index either fell or moved sideways. Weaker than anticipated downstream demand ended up hitting certain metals related to rare earth magnets particularly hard, causing a plummet in the index. Another significant factor […]
The MetalMiner Team
Global Precious Metals MMI: Precious Metal Prices Edge Further Down Month-on-Month
After almost a year of sideways movement, the Global Precious Metals MMI (Monthly Metals Index) broke its trend, declining by 4.71%. Despite the break in sideways movement for precious metal prices as a whole, most individual commodities still lack strong bullish or bearish movement as they move through Q1. Most gold and other precious metals […]
Renewables/GOES MMI: The “Dirty” Business of Disposing of Solar Panels
Numerous factors continue to pull at the Renewables MMI (Monthly Metals Index) as it moves through Q1. This past month, the index largely moved sideways, only exhibiting a slight upward movement of 1.66%. Meanwhile, renewable energy news indicated that metals like cobalt and silicon could remain in oversupply for some time. Moreover, expanding mining operations […]
Global Precious Metals MMI: Index Rises, But Long-Term Forecasts Remain Bearish
The Global Precious Metals MMI (Monthly Metals Index) ended 2023 by breaking out of its sideways trend and rising 3.64%. However, most precious metals still lack strong bullish action. All precious metals retracted in January after experiencing rallies throughout December. Currently, precious metals prices, for the most part, lack the strength needed to break out […]
Japan’s Nippon Beats Nucor, Cliffs, ArcelorMittal in U.S. Steel Sale
US steel news sources and markets were abuzz on December 18 over Nippon Steel’s purchase of U.S Steel. The $14.9 billion investment represents a significant step in Nippon’s plan to expand its U.S. assets, and pushed the Japanese company from the fourth to the third-largest global steel producer. In total, it will now account for […]
Global Precious Metals MMI: Some Precious Metals Prices Up, Index Stays Flat
The Global Precious Metals MMI (Monthly Metals Index) narrowly missed trading flat, only inching up a slight 0.17%. During the period from November 1 to December 1, precious metals prices, specifically gold and silver, surged significantly. For instance, the price of gold increased from $1,839.01 per troy ounce to $2,037.74, marking a substantial 10.81% uptick. […]
2023 in Review: Carbon Steel/Raw Steel Prices
2023 steel prices witnessed heavy bullish pressure at the beginning of the year. However, as the year wore on, more and more bearish pressure began affecting the market. Factors such as Cleveland Cliffs’ price hikes, the UAW strike, and U.S. Steel going up for sale all had major impacts on the market and steel demand. […]
Global Precious Metals MMI: Precious Metals Prices Remain Mostly Sideways Amid Conflicting Factors
The Global Precious Metals MMI (Monthly Metals Index) maintained a sideways trend once again, this time moving up only 2.07%. That said, the overall future for precious metals prices brightened recently. For example, through October, gold increased around $150 per ounce. However, there were several variations in the prices of precious metals between October 1 […]
Precious Metal Prices Losing Steam After Fed Announces Intent to Keep Interest Rates Elevated
In recent weeks, leading up to the end of the month, indices like the S&P500 and metals like silver and gold began to run out of steam. The impetus for the decline in stock and precious metal prices was recent Fed comments regarding higher interest rates in the foreseeable future. Meanwhile, other indexes such as […]
Global Precious Metals MMI: Precious Metal Prices Drop Below Support Zones
The Global Precious Metals MMI did not deviate far from its ongoing sideways trend. Indeed, since April, the index has continued to stay within a tight trading range without much movement up or down. Moreover, precious metal prices, including those for gold and silver, remain relatively high when looking at their respective price ranges over […]