Overall, the Stainless Monthly Metals Index (MMI) posted slight growth, with a 3.54% rise from August to September. Nickel prices rallied throughout August, halting months of steep declines. All in all, prices rose 3.18% during the month as they found a peak on August 30. However, the rebound proved short-lived. The price of nickel collapsed […]
Category: Metal Prices
Raw Steels MMI: Steel Prices Remain Sideways Ahead of Cuts
The Raw Steels Monthly Metals Index (MMI) moved sideways, with a 2.34% decline from August to September. U.S. steel prices trended either sideways or down over recent weeks. HRC and CRC prices appeared to find a bottom in August but did not show enough momentum to the upside to form an uptrend. Meanwhile, HDG prices […]
Renewables MMI: China’s New Decarbonization Initiatives, What it Means for Steel and Aluminum Buyers
The Renewables MMI (Monthly Metals Index) finally witnessed a significant increase in price action for the first time in a year. In total, the index ascended by 9.97%, drawing fresh attention to renewable resources. The main culprit for the increase in price action was a significant rise in neodymium prices, likely in response to China’s […]
Construction MMI: Steel Prices Dip Further with Ongoing Steel Demand Weakness Within China
The Construction MMI (Monthly Metals Index) broke further out of its sideways trend, dipping by 3.61%. The main culprits driving the index down month-over-month were falling steel rebar and h-beam steel prices, compelled by weak domestic demand within China. With China’s property sector not anticipated to strengthen in the short term, steel prices could continue […]
Automotive MMI: How is China’s Excessive Steel Dumping Impacting the Automotive Industry?
The Automotive MMI (Monthly Metals Index) moved sideways month-on-month, only rising by 0.78%. Hot dipped galvanized steel prices remained sideways, which helped to hold the index firmly in range. However, China’s recent dumping of excess steel supply into international markets could cause downward price movement and bearish sentiment for the remainder of 2024. China’s Hot-Dipped […]
Rare Earths MMI: U.S. Businesses Most Impacted by China’s Rare Earths Crackdown
The Rare Earths MMI (Monthly Metals Index) managed to reverse and pull up by 8.66% after experiencing steady declines since May. Numerous parts of the rare earths index reversed price action, including neodymium and terbium oxide. China’s recent crackdown on rare earth supplies has caused a shift in the global market, creating significant bullish sentiment […]
Why Are Aluminum Prices Up Despite Ample Supply?
Falling exchange prices and rising LME inventories this year indicate that primary aluminum is currently in ample supply. So far, aluminum prices have slightly increased since the beginning of the month as inventory levels have steadily declined. However, while the metal leaving the exchange has been Indian, a good, deliverable brand, the metal arriving has […]
Global Precious Metals MMI: Gold Prices Continue to Fly High, but for How Long?
The Global Precious Metals MMI (Monthly Metals Index) narrowly missed trading flat, only budging down a mere 0.01%. Precious metals prices experienced an array of volatility in both directions, which held the overall index firmly in a sideways trend. Gold prices continue to rise while other precious metals like palladium and silver dropped (price trends […]
Copper MMI: Mining Resumption, China Pose Risk to Copper Prices
Overall, the Copper Monthly Metals Index (MMI) fell 4.56% from July to August. Aside from a short-lived rise at the start of July, copper prices today remain in a downtrend, with prices falling 5.76% from the previous month. Prices did manage to rebound in August, although not enough to signal a trend reversal. (Follow copper […]
Aluminum MMI: Aluminum Prices Rise, Downside Risks Remain
The Aluminum Monthly Metals Index (MMI) continued to drop, with a 5.14% decline from July to August. The price of aluminum continued to deflate before finding a bottom at the close of July. Overall, aluminum prices witnessed a 9.07% decline throughout the month, followed by a modest 2.26% rise during the first half of August. […]
