Category: Metal Prices

Global Precious Metals MMI: Index Rises, But Long-Term Forecasts Remain Bearish

Global Precious Metals MMI: Index Rises, But Long-Term Forecasts Remain Bearish

The Global Precious Metals MMI (Monthly Metals Index) ended 2023 by breaking out of its sideways trend and rising 3.64%. However, most precious metals still lack strong bullish action. All precious metals retracted in January after experiencing rallies throughout December. Currently, precious metals prices, for the most part, lack the strength needed to break out […]

Aluminum MMI: U.S. Demand Muted, Russian LME Stocks Hit 90%

Aluminum MMI: U.S. Demand Muted, Russian LME Stocks Hit 90% Russian aluminum in LME warehouses

Following a more than 8% month-over-month increase in December, aluminum prices retraced during the first weeks of January, returning to their sideways trend. Markets appeared to shake off alumina supply jitters that saw prices spike at the end of 2023, as global demand remains muted. Nonetheless, there remains no expert consensus as to the overall […]

Construction MMI: Construction News Puts Infrastructure on Top for 2023

Construction MMI: Construction News Puts Infrastructure on Top for 2023 construction news

After a mostly sideways 2023, the Construction MMI (Monthly Metals Index) also entered 2024 sideways with only a small 2.5% increase. Furthermore, all index components except for European aluminum commercial 1050 sheet and shredded scrap steel moved in a sideways price trend. Meanwhile, construction news sources indicate that infrastructure projects proved to be the top-performing […]

Raw Steels MMI: Steel Prices Weak Amid Backwardation

Raw Steels MMI: Steel Prices Weak Amid Backwardation HRC, glossary of terms

The Raw Steels Monthly Metals Index (MMI) rose 3.25% from December to January. U.S. flat rolled steel prices closed the year decidedly bullish. A nearly 14% month-over-month rise saw HRC prices easily outperform all base metals both during the month and throughout 2023 as a whole. Meanwhile, plate prices saw an upside correction after prices […]

Stainless MMI: Stainless Demand Muted, Nickel Price Falling as Market Enters Seasonal High Point

Stainless MMI: Stainless Demand Muted, Nickel Price Falling as Market Enters Seasonal High Point Raw nickel lumps. The monthly nickel price

The nickel price remained within a strong downtrend throughout November, hitting its lowest point 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) moved sideways, falling […]

Automotive MMI: Index Rises & Outlook for 2024

Automotive MMI: Index Rises & Outlook for 2024 Cars colorful

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 […]

Rare Earths MMI: China Bans Export of Rare Earth Metals Technology

Rare Earths MMI: China Bans Export of Rare Earth Metals Technology Chinese Trade Embargo

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

Copper MMI: Possible Deficit Shifts Copper Price Outlook Copper mine shaft

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

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

Raw Steels MMI: Steel Prices Bullish as HRC Price Break $1,000/st HRC, price of steel, metal prices

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 […]

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