The Construction Monthly Metals Index (MMI) fell by 2.9% from April to May, with construction spending averaging a very minor increase. To see our take on macroeconomic indicators, subscribe to the free MetalMiner Weekly update email. Labor, Supply Chain Drag U.S. Non-Residential Construction Spending in March According to the U.S. Census Bureau, non-residential construction spending […]
Category: Macroeconomics
Raw Steels MMI: Steel Prices Fall As Demand Concerns Mount
The ascent for U.S. steel prices faltered as HRC, CRC, and HDG prices began to fall in early May. Plate prices also took a big dip. All in all, the Raw Steels Monthly Metals Index (MMI) fell by 8.9% from April to May. Know what to do when the market shifts. Related article: The […]
The Metals Forecast: Are The Bears Back in Town?
Following a strongly inflationary metal environment in Q1, Q2 2022 is looking like a whole different ballgame. Indeed, it’s no secret that the global economy is currently facing a number of major challenges. Alone, none of these would be enough to derail us from last year’s strong rebound. When added together, however, they’re helping to […]
The Best Market Forecast Looks a Lot Like an Aluminum Forecast
MetalMiner avails itself of both Artificial Intelligence (AI) and Technical Analysis (TA) to better understand market direction. In short-term analyses, AI works particularly well. However, when looking for long-term answers, TA is far more insightful. This is particularly true when determining the best market forecast in terms of bullish, sideways, or bearish. Charts, Forecasts, and […]
The Future of Steel Supply: The Facts Thus Far
It’s first-year economics: everything comes down to supply and demand. Historically, the push and pull between these two massive market forces are cyclical, and that includes steel. When you have more demand than supply, prices go up. Eventually, the prices get so high that people stop buying. After a while, the steel supply builds up, […]
Analyzing Recession Fears for 2022
Recession fears have so far been focused largely on the US. However, a recent note from Capital Economics to their clients predicts that we’re much more likely to see a recession in Europe. Are US Recession Fears Really Valid? Most US economists’ recession fears resulted from last month’s brief inversion in the spread between two-year […]
Recession Fears: Could the Fed Risk Too Much Too Fast?
Of late, all talk related to the US economy seems focused on inflation. And while the Fed has continually issued statements regarding interest rates, the organization seems split on how to proceed. Moreover, concerns are rising that too much intervention too soon could actually push the economy into a recession next year. In the meantime, […]
EU’s Russian Coal Ban Set to Impact Metal Prices
On April 8th, the European Union announced plans to ban imports of Russian coal. This, of course, comes in the wake of that country’s February invasion of Ukraine. The decision is part of the fifth round of sanctions against the Kremlin. And with the Russian economy already poised for a massive contraction, prices – including […]
Let’s Not Forget China
Russia’s invasion of Ukraine has sent shock waves throughout global metals markets. However, it’s important to remember that the most consistent longer-term driver of metal prices is Chinese demand. That’s why it’s surprising to see how little attention has been paid to the world’s largest consumer and producer of metals in recent months. It’s understandable […]
The MetalMiner take on initial sanctions imposed by the West on Russia
Although the West issued a new round of sanctions late on Sunday, it remains unclear what effect they will have. The new sanctions, including the prohibition of Russia flying over European airspace, as well as the funding of arms for Ukraine, came on Sunday. Nobody at MetalMiner believed the earlier sanctions through Friday would put […]
