The Renewables MMI (Monthly Metals Index) continued its slight downward trend month-on-month, dropping by 3.8%. Two large components of the index, silicon and cobalt prices, continue to experience drops due to lingering renewable energy supply bottlenecks from 2023. This, along with falling grain-oriented electrical steel prices, brought the index down Silicon for Solar Panels: A […]
Category: Metal Pricing
Outokumpu Expects Sideways Stainless Market, Promotes the Necessity for Protectionism
Speaking at the Chicago chapter of the Association of Women in the Metals Industry’s (AWMI) most recent dinner, Outokumpu Business Area Americas CEO and President Tamara Weinert highlighted the many challenges facing domestic stainless producers. She also commented on the global stainless steel price, the company’s overall outlook, and its path toward a greener future. […]
Copper MMI: Risks to the Copper Price Uptrend
Overall, the Copper Monthly Metals Index (MMI) rose 17.36% from April to May. The copper price uptrend accelerated throughout April. Bullish momentum saw prices surge nearly 14% from the close of March. By April 29, prices pushed past the $10,000 per metric ton mark. They continued to move even higher by mid-May, with an additional […]
Global Precious Metals MMI: Upward Price Action for Gold Finally Loses Steam
The Global Precious Metals MMI (Monthly Metals Index) slowed its upward price action and moved sideways from April to May. All in all, the index only rose by 2.38%. Among precious metal prices, gold remains at historically high levels, while silver and palladium prices trended more sideways month-over-month. Precious Metal Prices: Gold Gold prices rallied […]
Construction MMI: Will Rising Copper Prices Impact Construction Projects?
The Construction MMI (Monthly Metals Index) remained firmly in a sideways trend, only budging upward by 1.28%. The rising price of iron ore PB fines in China had the heaviest impact on the index, holding it more up than down. After that, the next biggest factor was European commercial 1050 aluminum sheets. Meanwhile, all other […]
Aluminum MMI: Aluminum Prices Retreat after Failing to Break 2023 High
Overall, the Aluminum Monthly Metals Index (MMI) rose 7.06% from April to May. The aluminum price remained bullish throughout April, rising 11.47% month over month. However, prices found a peak on April 22 when they failed to break above their 2023 high. They then retraced to the downside during the remainder of the month and […]
Automotive MMI: Will Potential Copper Shortages Impact the Automotive Market?
The Automotive MMI (Monthly Metals Index) broke out of its nearly 6-month-long sideways trend amid several changes in metals prices. Month-over-month, the index rose 5.24%. Except for shredded scrap steel and palladium, most components of the index either moved up or sideways with slight upward movement. With the recent LME and CME ban on Russian […]
Stainless MMI: Mills Post Q1 Results as Nickel Prices Stabilize
Nickel prices followed other base metals up throughout April, with a nearly 15% month-over-month rise. By late April, prices hit their highest level since September, although they subsequently began to retrace as upside momentum cooled. Overall, the Stainless Monthly Metals Index (MMI) rebounded, with a 9.58% jump from April to May. Outokumpu, Acerinox Post Q1 […]
Raw Steels MMI: Steel Prices Sideways Following Mill Price Reporting
The Raw Steels Monthly Metals Index (MMI) moved sideways, with a modest 1.86% decline from April to May. U.S. flat rolled steel prices found a bottom at the close of March and proceeded to move sideways. HRC prices saw a modest increase, but ultimately closed the month at $838 per short ton. Meanwhile, HRC Midwest […]
Rare Earths MMI: Chinese Rare Earth Profits Continue to Slide
The Rare Earths MMI (Monthly Metals Index) saw a massive rebound after four months of sharp declines. All in all, the index rose by a whopping 14.36%. This enormous increase could indicate that prices for rare earth metals finally found a bottom between March and April. Chinese Rare Earth Metals Profits Still Declining China’s mining […]