The Raw Steels Monthly Metals Index (MMI) fell by 3.04% from September to October. U.S. steel prices continued to drop throughout September. However, declines for both hot rolled coil prices and cold rolled coil prices slowed to a sideways trend. Plate prices, which have shown the most strength of steel prices, traded down for the […]
Category: Metal Prices
Recession Fears Ramp Up Pressure on Industrial Metals Market
Experts agree that a global recession is now a foregone conclusion. Though they continue to argue about the potential extent of the damage and which countries may evade repercussions, few see any way to avoid a downturn. As usual, one of the first markets to react to the growing concern is industrial metals. Back on […]
Construction MMI: Industrial Metal Supplies Low, Prices High
The September Construction MMI traded sideways, falling a modest 2.56%. However, this trend will likely not continue. Supply and energy shortages continue to weigh heavily on the industrial metal and construction industries. Strains on US Construction Smelter shutdowns and industrial metal slow-downs in China were not kind to the Construction MMI last month. Back in […]
Copper MMI: Copper Price Rally Falters
The Copper Monthly Metals Index (MMI) moved sideways from August to September as the index rose 1.13%. Meanwhile, copper prices remain steady. Copper prices began to slide at the beginning of September. This came after they caught a temporary bounce in late summer. Prices then began to break through short-term lows, indicating the potential for further […]
Raw Steels MMI: Steel Prices Decline, Pace Slows
U.S. steel prices continue to search for a bottom, although the pace of declines began to slow as August saw the smallest month-over-month percent decrease since May. Nonetheless, by early September, hot rolled coil prices fell beneath the $800/st mark for the first time since December 2020. Plate prices also trended downward last month, dipping […]
Global Precious Metals MMI: Precious Metals Go Sideways, But For How Long?
The Global Precious Metals MMI (Monthly MetalMiner Index) fell a modest 0.10% this past month. As a whole, global precious metal prices continue to trade sideways. That said, there are still plenty of investors looking to turn paper currency into precious metals over fears of a recession. Indeed, this could prove to be the very […]
Raw Steels MMI: Steel Prices Decline Amid Record HRC / Plate Spread
The Raw Steels Monthly Metals Index (MMI) fell by 8.73% from July to August. All in all, U.S. steel prices continued their descent, leaving cold rolled coil and hot dipped galvanized prices at their lowest point since January 2021. Meanwhile, hot rolled coil prices fell well beneath the $1,000/st mark, reaching their lowest point since […]
Construction MMI: China Property Crisis Dominos into Industrial Metal
This month, the Construction MMI (Monthly MetalMiner Index) dropped yet again. However, it declined slightly less than those seen in previous months. Altogether, the index is down 4.60%. Industrial metal, in general, continues to struggle due to China’s COVID lockdowns and supply chain issues. The best way to track industrial metal prices is to sign […]
Stainless MMI: Nickel Prices Hit Bottom by Mid-July
The Stainless Monthly Metals Index (MMI) dropped 8.87% from June to July. After nickel prices hit a bottom mid-July, they followed the base metal trend upward. By the beginning of August, however, the rebound had faltered, and prices resumed their descent. Both last month’s increases and this month’s declines were extremely narrow. For that reason, […]
Automotive MMI: Downward Trend Continues, Experts Lose Confidence in the Automotive Market
The Automotive MMI (Monthly Metals Index) dropped by 6.32% this past month, a downward trend it has been maintaining since May. The drop comes despite valiant efforts to put out some of the fires plaguing the car manufacturing industry. But with the microchip shortage, surging inflation, and issues with both supply and demand, the automotive […]
