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 […]
Category: Supply & Demand
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). […]
Automotive MMI: Car Inventories Return, but Consumers Do Not
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. […]
China and Peru Place Drag on Copper Prices
Hopes of a recovery in copper prices seem to have flat-lined since the start of February. The primary reason for this is lukewarm demand from China, one of the world’s biggest copper consumers. This effectively ends the price surge markets saw over the past few months, culminating at the end of January. Initially, the optimism […]
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 […]
Grain Oriented Electrical Steel Demand Expected to Keep Growing
No matter where in the world you go and what energy source you’re using, energy transfer requires transformers. Be it a nuclear power facility, a power plant running on natural gas, a wind field, or a plant running on hydropower. The energy generated in these facilities cannot light up homes, businesses, and schools without transformers. […]
Is the Face of the Steel Industry Changing?
After weathering a bumpy ride throughout 2022, one of the world’s most traded commodities still isn’t out of the woods just yet. Though steel prices rose across the board over the past few weeks, mills around the world remain shuttered, and demand continues to fluctuate. Zero-COVID and limited energy across places like Europe are just […]
China’s Reform Commission Threatens Crackdown on Iron Ore Hoarders
The global iron ore price may be in for a bit of a ride. Sector analysts foresee high price volatility in the first months of 2023, mainly due to the increasing number of coronavirus cases in China. Adding fuel to the fire is the fact that the government there has warned it will be “paying […]
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 […]
