2023 steel prices witnessed heavy bullish pressure at the beginning of the year. However, as the year wore on, more and more bearish pressure began affecting the market. Factors such as Cleveland Cliffs’ price hikes, the UAW strike, and U.S. Steel going up for sale all had major impacts on the market and steel demand. […]
Category: Metal Pricing
Rare Earths MMI: Prices Move Sideways Amid Potential Rare Earth Magnets Trade War
The global rare earth magnets game continues to heat up. Indeed, China, the top global rare earths supplier, seems eager to tighten its hold on the marketplace, especially with trade tensions rising between the country and the West. Meanwhile, the U.S., Australia, and many other nations continue to look for homegrown solutions to rare earths […]
November Rally: Multiple Precious Metal Prices Soared, But Silver Stole the Show
This month, both stock indices and precious metal prices saw consistent gains week over week as conflict continues to unfold in the Middle East and Europe. With prices for Yields falling a little over 3%, reaching their lowest levels in two months, price action for stock indices recently drove markets above 7% in response to […]
Global Precious Metals MMI: Precious Metals Prices Remain Mostly Sideways Amid Conflicting Factors
The Global Precious Metals MMI (Monthly Metals Index) maintained a sideways trend once again, this time moving up only 2.07%. That said, the overall future for precious metals prices brightened recently. For example, through October, gold increased around $150 per ounce. However, there were several variations in the prices of precious metals between October 1 […]
Copper MMI: Is The “Supercycle” Narrative For Copper Prices Falling Apart?
Although they appear on the rebound from last month’s lows, copper prices have yet to break out of their long-term sideways range. Nonetheless, following an almost 2% overall decline throughout October, prices have now retraced to their highest levels since September. For the second consecutive month, all prices within the index edged lower. That said, […]
Renewables/GOES MMI: Index Turns Down and Possible EV Trade War?
The Renewables MMI (Monthly Metals Index) remains volatile, especially when it comes to EV battery technology. Starting in August, the index experienced sharp up-and-down movements from month to month. Indeed, between October 1 and November 1, the index dropped 4.22%. Most index components, including grain-oriented electrical steel, dropped, with only a few managing to move […]
Aluminum MMI: Aluminum Prices Sideways as Premiums Remain Bearish
Although they fell 4.29% throughout October, aluminum prices remain trapped within a sideways trend established back in July. Prices retraced from their late-September spike but failed to create a lower low. Therefore, they continue to move within a tight range. Overall, the Aluminum Monthly Metals Index (MMI) remained sideways, with a modest 0.72% decline from […]
Stainless MMI: Stainless Market, Nickel Price Remain Bearish
Nickel price data continued to decline during the month, dropping a total of 4.06%. While prices remain above their pre-squeeze historical average, they recently fell to their lowest level since October 2021 as they continue to slip below short-term support. All components declined during the month, which saw the Stainless Monthly Metals Index (MMI) fall 4.56% […]
Construction MMI: Index Remains Sideways, U.S. Construction Industry Jobs Up
The Construction MMI (Monthly Metals Index) continued to lack strong bullish or bearish pressure month-over-month. Overall, the index only dropped by a minuscule 0.13%. Still, many factors remain at play in the construction industry, which seems to be behind the index components’ steady sideways trends. With the winter months coming, infrastructure construction will likely slow […]
Raw Steels MMI: How Long Can Steel Prices Rise?
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 […]
