The October Construction MMI (MetalMiner Monthly Index) dropped 6.96%. Not only did the construction cost index fall recently, but high interest rates have seriously impacted the US housing construction sector. Billings are on the rise in both the US commercial construction sector and on the consumer end. Meanwhile, new housing construction continues to cool due […]
Category: Macroeconomics
Raw Steels MMI: Steel Prices Flatten, Slowly Edge Downward
The Raw Steels Monthly Metals Index (MMI) fell by 3.04% from September to October. U.S. steel prices continued to drop throughout September. However, declines for both hot rolled coil prices and cold rolled coil prices slowed to a sideways trend. Plate prices, which have shown the most strength of steel prices, traded down for the […]
Amid Energy Crisis, German Industry Follows Toilet Paper Manufacturers Down the Drain
An attention-grabbing headline in the Financial Times perfectly illustrates the dire predicament in which Germany’s manufacturing industry finds itself. The title, “Energy crisis leaves Germany’s Toilet Paper Makers Struggling to Clean Up” conjures up all kinds of images. Unfortunately, sky-high power costs continue to deprive Germans of more than sanitary products. From heat and light […]
Metal Prices in Decline
After powering to new highs in the Spring, metal prices continue to slide. Iron ore, aluminum, and copper have all fallen to varying degrees, and those merely represent the largest volumes. Meanwhile, the bulls continue to retreat while demand fears trump supply fears. Prices surged earlier this year based on several predictions. The first was […]
Copper MMI: Copper Price Rally Falters
The Copper Monthly Metals Index (MMI) moved sideways from August to September as the index rose 1.13%. Meanwhile, copper prices remain steady. Copper prices began to slide at the beginning of September. This came after they caught a temporary bounce in late summer. Prices then began to break through short-term lows, indicating the potential for further […]
Steel Manufacturing Shutters While Prices Drop
Hot rolled coil prices in Northern Europe declined further the past week due to low demand in steel manufacturing. According to sources, this was due partly to higher costs and uncertain economic outlooks. “There is too much pressure from imports, and stock levels are too high,” one trader told MetalMiner when asked about the declining […]
Raw Steels MMI: Steel Prices Decline, Pace Slows
U.S. steel prices continue to search for a bottom, although the pace of declines began to slow as August saw the smallest month-over-month percent decrease since May. Nonetheless, by early September, hot rolled coil prices fell beneath the $800/st mark for the first time since December 2020. Plate prices also trended downward last month, dipping […]
Europe Facing Energy Crisis This Winter
A post in the Financial Times this week reported on comments made by Shell’s chief executive Ben van Beurden. In the article, Ben van Beurden focused mainly on the criticality of Europe’s energy crisis. “That this is going to be somehow easy, or over, I think is a fantasy that we should put aside,” Van Beurden […]
China’s Steel Supply Encounters Significant Hurdles.
Everyone thought a COVID-19 ravaged steel supply market in China took a turn towards recovery. However, many other hurdles now stand in the way, both long & short term. Power cuts and muted demand driven by the construction crisis in China stand in the path of growth. Even worse, the cascading effect has affected the […]
Should We Prep for a Zinc Price Rally? Many Say Yes
If you look at zinc price trends from this past year, it’s hard to identify what you might call a “clear trend.” After building from a pandemic-driven low of just $1,960 a ton, the metal skyrocketed to over $4,500 just four months ago. Unfortunately, pride cometh before a fall. And fall zinc did. In fact, […]
