Month-over-month, the Automotive MMI (Monthly Metals Index) exhibited little movement. The index trended sideways, only moving up a slight 0.28%. However, recent events continue to raise questions about the future of the industry, especially where automotive imports are concerned. Despite the index itself not witnessing much movement, individual components of the index saw much more […]
Category: Automotive
Construction MMI: Potential Manufacturing Boom Could Impact Steel Prices
Month-over-month, the index experienced little movement. Overall, the Construction MMI (Monthly Metals Index) moved sideways, inching down just 1.2%. Steel prices moving downward placed some bearish pressure on the index. However, several significant factors continue to press on construction from both a bearish and bullish standpoint, including the Fed holding off on adjusting interest rates, […]
Automotive MMI: Automotive Market Improves, but Bears Show Up for Steel Prices
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 […]
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 […]
Will Electric Cars Benefit or Threaten Europe’s Aluminum Industry?
Are electric cars going to benefit or threaten Europe’s aluminum industry? At first, it might appear a stupid question. However, it is also one that aluminum industry news sources continue to ask. The average European EV contained 283kgs of aluminum in 2022 compared to 169kgs for ICE vehicles. That is according to a study by […]
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 […]
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 […]
Automotive MMI: UAW Strike Finally Over
The Automotive MMI (Monthly Metals Index) moved sideways month-over-month, rising in price by just 2.31%. Save for hot-dipped galvanized steel, most parts of the index also traded sideways, mainly due to a lack of strong bullish or bearish pressure. Hot-dipped galvanized proved the only outlier due to steel corporations hiking prices. However, the main headline […]
Automotive MMI: Possible UAW Strike Could Seriously Impact Industry
Month-over-month, the Automotive MMI (Monthly Metals Index) slid downward by 3.42%. Steel prices within the index, like hot-dipped galvanized, trended sideways. However, copper and lead fell, introducing bearish pressure. Overall, the U.S. automotive industry witnessed some dynamic changes month-over-month. More robust demand for personal transport continues to emerge as supply chains regain strength. This will […]
Automotive MMI: Consumer Demand Still Up, Sideways Steel Prices Helping Automotive Industry
Compared to other metal industries, components of the automotive industry still remain somewhat strong, despite the Automotive MMI (Monthly Metal Index’s) sideways movement over the past seven months. Pent-up consumer demand still runs strong in the industry. However, it still continues to battle high interest rates and falling steel prices due to slumping demand. There […]
