While the Raw Steels Monthly Metals Index (MMI) rose 6.43% from November to December, U.S. flat rolled steel prices remain decidedly bullish. By mid-December, hot rolled coil prices broke above the $1,000 per short ton mark for the first time since June. To date, HRC prices have risen almost 53% this year, outperforming all base […]
Category: Macroeconomics
Construction MMI: Construction Spending Rises but Construction Index Falls
The Construction MMI (Monthly Metals Index) strayed from its sideways trend to drop 6.84% month-over-month. A drop in European commercial aluminum 1050 sheet prices was the main culprit in the index’s decline. Construction news sources indicate with steel prices finally flattening out in recent weeks, the index could face further bearish pressure. Despite this, construction […]
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. […]
November Rally: Multiple Precious Metal Prices Soared, But Silver Stole the Show
This month, both stock indices and precious metal prices saw consistent gains week over week as conflict continues to unfold in the Middle East and Europe. With prices for Yields falling a little over 3%, reaching their lowest levels in two months, price action for stock indices recently drove markets above 7% in response to […]
Copper MMI: Is The “Supercycle” Narrative For Copper Prices Falling Apart?
Although they appear on the rebound from last month’s lows, copper prices have yet to break out of their long-term sideways range. Nonetheless, following an almost 2% overall decline throughout October, prices have now retraced to their highest levels since September. For the second consecutive month, all prices within the index edged lower. That said, […]
Precious Metal Prices: Gold, Silver Remain Safe Haven Assets Amid Global Uncertainty
This week, precious metals once again served as safe-haven assets for investors and market participants. That said, some precious metal prices, including platinum, continued to slide due to bearish pressure followed by falling demand. While the world continues to monitor the conflict in the Middle East, metals such as gold and silver have seen an […]
Global Precious Metals MMI: Precious Metal Prices Rise Amid Hamas/Israel War
Last month, the Global Precious Metals MMI (Monthly MetalMiner Index) finally broke its sideways trend, dropping 3.15%. However, after the Hamas attack on Israel, both gold and silver prices reacted strongly with dramatic increases. Furthermore, surge affected both spot precious metal prices and 3-month futures. This proved a result of investors running to these two […]
Investors Seek Safe Haven Assets Amidst Geopolitical Conflict
Precious metals like gold and silver are often seen as a safe haven asset during times of economic uncertainty. In recent weeks, we have witnessed a significant increase in the number of global conflicts, imposing high uncertainty and risk among markets for investors. Still, the jury is still out on how this will affect precious […]
India’s Steel Industry Braces Itself: Coking Coal Crisis Sparks Controversial Price Hikes
India has almost replaced China as the most important coking coal export destination for the near future. This comes after a significant increase in steel demand in the subcontinent. The expected resurgence in China’s economy, mainly due to the government’s efforts to kick-start sectors like construction, has not materialized. In response, sector experts are beginning to […]
Stainless MMI: Stainless Mills Scramble for Orders as Nickel Prices Hit 2-year Low
Nickel prices remained decidedly bearish throughout October, experiencing the largest monthly decline amongst base metals. Indeed, prices fell over 7% to their lowest level since October 2021. Overall, the Stainless Monthly Metals Index (MMI) continued to decline, dropping 5.74% from September to October. Crush the competition by getting access to weekly exclusive nickel market intel. Opt into MetalMiner’s free […]
