The Automotive MMI (Monthly MetalMiner Index) rose slightly higher than in previous reports. Month-over-month, the index went up by 5.08%. Automobile inventories may be rising, but consumers are much more reluctant to purchase than they were six months ago. With interest rates still climbing, more and more consumers continue to steer away from vehicle purchases. […]
Category: Metal Pricing
Raw Steels MMI: U.S. Steel Prices Continue Uptrend
U.S. steel prices continue to rise amid ongoing price hikes from domestic steelmakers. The ascent for HRC prices accelerated throughout January as they jumped by over 10%. Meanwhile, plate prices returned sideways with a modest month-over-month rise of just under 2%. Of course, this came after prices traded down throughout December. Overall, the Raw Steels […]
Global Precious Metals MMI: Prices Shift Down, Markets Face Bearish Pressure
The Global Precious Metals MMI (Monthly MetalMiner Index) moved sideways last month, inching down a mere 0.37%. Precious metal prices today are trending sideways in general. However, as a whole, the market appears more bearish than bullish in the short term. Gold, in particular, faces bearish pressure from investors due to its correlation with the […]
Copper MMI: Copper Prices Lose Momentum
Copper prices reacted to short-term resistance and rallied at the beginning of the year. That said, copper prices need to break lows and form a lower high to change the overall trend. Currently, the trend is up, and prices are expected to continue rising. Technical support levels should act as a price floor, giving buyers […]
Rare Earths MMI: Different Countries Racing for Global Rare Earth Dominance
The Rare Earths MMI (Monthly Metals Index) rose considerably over the past month, climbing by a total of 7.05%. The primary factor influencing the rare earth price forecast over the past several months was zero-COVID. Now, the focus is on those restrictions being lifted. Currently, China reports that the country’s COVID cases are dropping. China’s […]
Global Precious Metals MMI: Prices Rally, Downturn Likely
The Global Precious Metals MMI (Monthly MetalMiner Index) traded upwards by 3% as precious metal prices advanced. Gold, silver, and palladium all began a rally coming into 2023. However, that rally has solid potential for both a short and long-term downturn. The surge in the index price was mainly due to silver and gold bullions […]
Renewables/GOES MMI: Wind Turbine Production Threatened by Steel Price Hikes
The Renewables MMI (Monthly MetalMiner Index) began showing signs of a possible reversal month-over-month, edging up 3.42%. Renewable resources, meanwhile, continue to see significant global investment. MetalMiner noted in its Raw Steels MMI that steel prices found a bottom month-over-month. This impacted the renewable resources index heavily. After all, much of the index consists of […]
Stainless MMI: Nickel Prices Pull Back as Downside Risk Mounts
The Stainless Monthly Metals Index (MMI) rose 14.58% from December to January as nickel prices retreated. Nickel prices continued to rally throughout December. But by January, prices began to show minor pullbacks that could become the beginning of a short-term sideways trend. Until prices break the new range, the market direction will remain unclear. Market […]
Copper MMI: Prices Spike, Confirming Copper Market Uptrend
In recent days, copper prices managed to break prior highs after experiencing several weeks of pullback. Prices managed to hit short-term demand zones, which typically induce bullish strength. This confirmed the recently-formed uptrend in the copper market, ending the macro downtrend that started earlier in 2022. New data indicates the start of a bullish market, […]
Raw Steels MMI: U.S. Steel Prices Find Bottom, Begin Rising
U.S. steel prices hit a bottom at the beginning of December, then began to climb. Hot rolled coil prices rose over 8% from their December low. Meanwhile, plate prices traded down for the first time since September. Overall, the Raw Steels Monthly Metals Index (MMI) rose by 7.98% from December to January. MetalMiner’s free weekly […]