The Raw Steels Monthly Metals Index (MMI) rose 2.53% from September to October. Roughly six weeks ago, U.S. steel prices found a bottom at the close of September. However, in October, the market shifted, leading to a nearly 17% rise in HRC prices as they retraced back to their August range. Both CRC and HRC […]
Category: Metal Pricing
Automotive MMI: UAW Strike Finally Over
The Automotive MMI (Monthly Metals Index) moved sideways month-over-month, rising in price by just 2.31%. Save for hot-dipped galvanized steel, most parts of the index also traded sideways, mainly due to a lack of strong bullish or bearish pressure. Hot-dipped galvanized proved the only outlier due to steel corporations hiking prices. However, the main headline […]
Rare Earths MMI: Rare Earth Prices Cool Down
The Rare Earths MMI (Monthly Metals Index) recently began to cool down following two months of bullish momentum. Altogether, the index dropped by about 3.39%. Many components of the index traded sideways, while some others, like praseodymium neodymium oxide, declined. That said, the index still holds the potential to move back up in the remainder […]
Cobalt Crash: The Cobalt Price Index Hits Record Low Amid “Perfect Storm”
Analysts once hailed cobalt as a commodity whose price would rise forever. Used in the cathodes of many lithium-ion batteries to extend the life of the battery cell, investors and mine operators eagerly anticipated high returns on all cobalt investments. However, cobalt prices recently dropped to record lows amid global oversupply and a widespread slowdown […]
Global Precious Metals MMI: Precious Metal Prices Rise Amid Hamas/Israel War
Last month, the Global Precious Metals MMI (Monthly MetalMiner Index) finally broke its sideways trend, dropping 3.15%. However, after the Hamas attack on Israel, both gold and silver prices reacted strongly with dramatic increases. Furthermore, surge affected both spot precious metal prices and 3-month futures. This proved a result of investors running to these two […]
Renewables/GOES MMI: Index Goes Up, Lithium-Ion Battery Dilemmas
The Renewables MMI (Monthly Metals Index) saw a welcome boost month-on-month, rising 6.27%. Grain-oriented electrical steel, silicon, and neodymium were the main factors that increased the index, while the lithium-ion battery market remains a point of contention. In the case of silicon, futures initially rose back in June due to production cuts within China, the […]
Stainless MMI: Stainless Mills Scramble for Orders as Nickel Prices Hit 2-year Low
Nickel prices remained decidedly bearish throughout October, experiencing the largest monthly decline amongst base metals. Indeed, prices fell over 7% to their lowest level since October 2021. Overall, the Stainless Monthly Metals Index (MMI) continued to decline, dropping 5.74% from September to October. Crush the competition by getting access to weekly exclusive nickel market intel. Opt into MetalMiner’s free […]
Construction MMI: Steel Prices Drop & Construction Impact on Steel Demand
Month-over-month, the Construction MMI (Monthly Metals Index) narrowly missed trading completely flat, ultimately moving sideways with just a 0.2% increase. Meanwhile, steel prices, specifically h-beam steel and steel rebar costs, either dropped or traded sideways, as did bar fuel surcharges. Energy have risen at an astounding rate since 2021 due to high inflation and geopolitical […]
Raw Steels MMI: Will Cliffs’ Price Hike Shift Steel Prices?
The Raw Steels Monthly Metals Index (MMI) rose 3.45% from August to September. Flat rolled steel prices remained bearish throughout September. Meanwhile, hot rolled coil prices continued to show the largest decline, falling to their lowest levels since December 2022. By the end of September, prices sat only 4% above their last major low. Meanwhile, […]
Rare Earths MMI: Burmese Mining Suspension Causes Prices for Rare Earth to Shoot Up
The Rare Earths MMI (Monthly Metals Index) witnessed yet another steep increase month-over-month. Indeed, supply disruptions remain a massive concern in the rare earths industry, so rare earth magnets and other materials witnessed renewed bullish strength across the board over recent months. In August, market worries arose prior to a planned environmental inspection of China’s […]