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 […]
Category: Macroeconomics
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 […]
Raw Steels MMI: Will Cliffs’ Price Hike Shift Steel Prices?
The Raw Steels Monthly Metals Index (MMI) rose 3.45% from August to September. Flat rolled steel prices remained bearish throughout September. Meanwhile, hot rolled coil prices continued to show the largest decline, falling to their lowest levels since December 2022. By the end of September, prices sat only 4% above their last major low. Meanwhile, […]
Rare Earths MMI: Burmese Mining Suspension Causes Prices for Rare Earth to Shoot Up
The Rare Earths MMI (Monthly Metals Index) witnessed yet another steep increase month-over-month. Indeed, supply disruptions remain a massive concern in the rare earths industry, so rare earth magnets and other materials witnessed renewed bullish strength across the board over recent months. In August, market worries arose prior to a planned environmental inspection of China’s […]
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 […]
Precious Metals MMI: Precious Metal Prices Like Gold and Silver Could Reverse
Month-over-month, the Precious Metals MMI (Monthly Metals Index) witnessed almost no movement and narrowly missed trading flat. Indeed, the index remained sideways, only dropping by a slight 0.11%. That said, the Fed’s stance on holding interest rates at an elevated level could impact precious metal prices in the near future. Interestingly enough, scrap precious metal […]
Stainless MMI: Stainless Inventories High, Mill Lead Times Low as Base Prices Hold Firm
The nickel price index continued to trend downward, as it fell to its lowest level since July 2022 by mid-September. Following an over 7% decline during August, prices fell nearly 3% during the first two weeks of September. As prices drop toward historical support zones, they come close to wiping out nearly all gains from […]
Renewables MMI: Grain-Oriented Electrical Steel Prices Skyrocket
Month-over-month, the Renewables MMI (Monthly Metals Index) ended up dropping significantly by 11.16%. The main culprit for this was cobalt prices dropping significantly in August, despite prices flattening again in the beginning of September. Steel plate prices also found support as of September 6th. Most other components of the index moved sideways or slightly up, […]
Construction MMI: Falling Chinese Imports Weigh on Construction, Steel Prices
The Construction MMI (Monthly Metal Index) rose for the first time in five months, welcoming a 3.97% increase. However, this rise could prove deceiving as the index still faces numerous bearish sentiments. Bar fuel surcharges rising helped the index rise month-over-month, along with did aluminum bar prices. Steel rebar and h-beam steel prices, on the […]
Platinum’s Dramatic Reversal: Are Precious Metals Prices Poised for a Resurgence?
Since late spring, platinum prices have seen significant downward movements. Crushed by bearish price action, prices have since declined by as much as 14%. At $950 / oz, platinum breached prior lows that had previously acted as support zones. However, precious metals prices for platinum recently bounced by 10% from the most recent low, shooting […]
