The Global Precious Metals MMI (Monthly MetalMiner Index) dropped considerably month-over-month. All in all, the index fell by 8.74%. The market continues to witness bearish pressure on precious metal prices today, just as it did throughout Q1 of 2023. While this led to a significant drop in value, some metals are feeling the effects more […]
Category: Metal Pricing
Construction MMI: Silicon Valley Bank Collapse Spills into Construction Industry
Month-over-month, the Construction MMI (Monthly MetalMiner Index) broke out of its sideways trend and rose amid both positive and negative construction news. For instance, bar fuel surcharges dropped, but h-beam steel and U.S. shredded scrap steel went up slightly. And while some sources report a rise in global rebar prices, others suggest steel rebar futures […]
Stainless MMI: Price of Nickel and Stainless Steel Continue to Drop
The Stainless Monthly Metals Index (MMI) dropped 4.68% from February to March. Meanwhile, the price of Nickel also fell significantly. Does your company have a stainless buying strategy based on a recessionary market? Stainless Spot Pricing for Buyers U.S. cold rolled stainless steel import licenses remain depressed. Indeed, many importers appear apprehensive, as it remains […]
Renewables/GOES MMI: Steel Prices Rise, Experts Doubt Solar Energy Efficiency
After holding a pretty steady sideways trend since October, the Renewables MMI (Monthly MetaMiner Index) decreased by a considerable 8.56%. Indeed, multiple components of the index trended downward, including cobalt, neodymium, and silicon. Meanwhile, Chinese silicon costs continue to drop due to overcapacity. Other reasons for the drop included multiple silicon producers coming online and […]
Raw Steels MMI: U.S. Steel Prices Continue Uptrend
The Raw Steels Monthly Metals Index (MMI) rose by 8.74% from February to March. The growth was largely due to the massive increase in the U.S. HRC Futures contract, which jumped by nearly 49%. Because of this, steel prices reacted accordingly. HRC prices continue to show bullish strength in the short term, even breaking out […]
Copper MMI: Copper Prices Awaiting a Downturn
Recent price action suggests strong potential for the price of copper to shift away from the rally witnessed at the beginning of the year. Technical analysis (TA) indicates that copper prices have begun to form lower highs on shorter time frames. This is a strong indicator that a downtrend lies ahead. However, prices will continue […]
Automotive MMI: are Lithium Supplies Threatened by Supply Shortages?
Similar to the past six months, the Automotive MMI for March was again pulled in multiple directions. Hot dipped galvanized prices rose again, following the same trend as HRC and CRC. However, Chinese lead prices dropped significantly, pulling the index down. This was mainly due to car sales shrinking within China (the world’s top market). […]
Aluminum MMI: Price of Aluminum Falls, Tariffs Back On
Aluminum prices reacted bearishly in the short term. At the beginning of February, price action showed a short-term sideways trend with no new lows or highs. Indeed, the price of aluminum would need to break out of its current range to form a continuation trend or a reversal downward. However, future price direction currently remains […]
Construction MMI: Bar Fuel Surcharges Drop, Steel Prices Edge Up
The Construction MMI (Monthly MetalMiner Index) traded sideways, rising by just 1.97%. The index was pulled in multiple directions month-over-month, resulting in a lack of major movements. For instance, bar fuel surcharges dropped, while steel rebar, h-beam steel, and sheet aluminum all went up. This recent rise in steel prices has left the index facing […]
Stainless MMI: Nickel Prices Return Sideways
The Stainless Monthly Metals Index (MMI) rose 5.82% from January to February as the nickel price index lost upward momentum. Nickel prices returned sideways in the short term after finding a peak in January. Since the price has not bounced high enough to confirm an uptrend, downside risk may increase. Meanwhile, volume levels appear at […]