The Global Precious Metals MMI (Monthly Metals Index) moved up again month-over-month after a bounce between March and April. The index moved up a modest 3.63%. Every part of the index either trended upward or moved sideways with a slight upward slant. Meanwhile, there are still many factors affecting precious metal prices. Many investors see […]
Category: Metal Pricing
Stainless MMI: Stainless Remains a Buyer’s Market Amid Flat Global Demand Projections
The Stainless Monthly Metals Index (MMI) rose a modest 0.67% from April to May. Following increased volatility over the last few months, nickel prices began to slow down in terms of sharp breakouts or breakdowns. As a result, the larger sideways trend continued with no clear direction. Does your company have a stainless buying strategy […]
Renewables/GOES MMI: Summer to Test Power Grid, Global Hunt for Transformers Continues
The Renewables MMI (Monthly Metals Index) dropped again this month, this time by 6.01%. Month-over-month, every part of the index fell except for U.S. plate steel. Somewhat weaker steel demand impacted Korean and Chinese steel plate prices, causing them to drop. Meanwhile, cobalt and silicon continued to fall due to oversupply. That said, the long-term […]
Copper MMI: Copper Prices Slide Despite Supply Deficit
Copper prices continued to slide this past month, although not enough to trigger a downward trend. As lower lows have yet to form, price direction remains uncertain. Copper prices will likely stay within range until a breakout or breakdown in price occurs. Such an event will likely help drive prices in a more established market […]
Construction MMI: Architecture Sector Sees Slight Recovery
Since December 2022, the Construction MMI (Monthly Metals Index) has seen multiple factors pull it up and down. Indeed, steel price hikes, high interest rates, government funding for infrastructure and recession fears have all pummeled the index. Ultimately, the index experienced another sideways movement between April 1 and May 1, though it notably traded down […]
Aluminum MMI: Aluminum Prices Slide as LME Faces Russian Supply Glut
Aluminum prices continued to slowly edge downward, but remained within an overall sideways trend. After prices fell 1.31% throughout April, they dropped an additional 2.22% during the first week of May. But despite the softness, aluminum prices have not yet formed lower lows, so an established downtrend is still not confirmed at this time. Interested […]
Automotive MMI: Vehicle Sales Up, Steel Prices Dropping
April saw a welcome boost in sales within the U.S. automobile market. New vehicle inventories are now in healthy shape. However, interest rates are still high, as are new vehicle prices. Moreover, the Automotive MMI index still has several factors working against it. Steel prices, notable HDG traded not only sideways, but completely flat. In […]
Rare Earths MMI: Prices Plummet as Rare Earth Demand Drops
The Rare Earths MMI (Monthly Metals Index) suffered yet another significant drop month-over-month. Overall, the index fell 15.81%. These massive drops in prices are the result of several factors. One of the the biggest culprits is rising supply and falling demand. Prices for rare earth metals have also decreased due to new mining initiatives cropping […]
What’s Behind Declining Steel Prices in Northern Europe?
Hot rolled coil steel prices in northern Europe began declining over the past month. Sources told MetalMiner on April 25 that the downtrend was largely due to lower demand and aggressive import offers. One trader mentioned that North European mills are now offering €820 ($900) per metric ton EXW for August rolling and September delivery. […]
Global Precious Metals MMI: Investors Trade Cash for Cold, Hard Gold
The Global Precious Metals MMI (Monthly Metals Index) enjoyed its largest month-over-month increase in a year. Between March and April, the index broke out of its tight sideways range and rose by 6.93%. The current talk of the town for precious metal prices today centers around recessionary fears. Indeed, investors are increasingly turning to precious […]