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 […]
Category: Metal Prices
Rare Earths MMI: China Bans Export of Rare Earth Metals Technology
Overall, 2023 proved volatile for the Rare Earths MMI, with the sector experiencing sharp declines at the beginning of the year. This mainly stemmed from decreased Chinese production, supply chain disruptions, and the numerous nations seeking non-Chinese sources of rare earth metals. During Q2 and Q3, price action remained sideways, but global supply dynamics continued […]
Copper MMI: Possible Deficit Shifts Copper Price Outlook
Still short of a breakout, current copper prices lifted off their October lows during November and have yet to see a major downside correction. Nonetheless, copper prices remain sideways and sit only 1.5% above where they stood at the start of 2023. An increase among all of its components helped the Copper Monthly Metals Index (MMI) […]
Stainless MMI: Stainless Market Bearish, Nickel Prices Prove Worst-Performing Base Metal of 2023
Nickel prices remained within a strong downtrend throughout November, hitting their lowest level since April 2021. While prices appeared to stabilize during the first half of December, the nickel market has overwhelmingly proven itself the worst-performing base metal with a roughly 45% year-to-date drop. Overall, the Stainless Monthly Metals Index (MMI) remained bearish, with a […]
Raw Steels MMI: Steel Prices Bullish as HRC Price Break $1,000/st
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 […]
Renewables/GOES MMI: Index Drops & Green Energy Faces Challenges
The Renewables MMI (Monthly Metals Index) took a noticeable dive month-over-month, dropping by 10.41%. Indeed, neodymium, cobalt, and steel plate all suffered drops in price, making them the main culprits for the index falling. Meanwhile, the latest renewable energy news sources suggest green initiatives could be in for a rocky ride in 2024. This is […]
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. […]
Rare Earths MMI: Prices Move Sideways Amid Potential Rare Earth Magnets Trade War
The global rare earth magnets game continues to heat up. Indeed, China, the top global rare earths supplier, seems eager to tighten its hold on the marketplace, especially with trade tensions rising between the country and the West. Meanwhile, the U.S., Australia, and many other nations continue to look for homegrown solutions to rare earths […]
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 […]
