The Raw Steels Monthly Metals Index (MMI) moved sideways, with a modest 1.38% decline in steel prices from March to April. U.S. flat rolled steel prices continued to trade down throughout March. Meanwhile, HRC prices fell 8.35% to close the month at a new lower low. However, hot rolled coil prices traded up during the […]
Tag: steel prices
European Steel Prices Decline as Economic Woes Mount
Market sources report that hot rolled coil steel prices in northern and southern Europe continued to decline in recent weeks due to slowing economies in Europe as well as overcapacity. “I’m a little scared about Germany,” one trader told MetalMiner, referring to that country’s current economic situation. Germany’s economy is the largest in the European […]
Raw Steels MMI: Mills Lob Price Hikes at Bearish Steel Prices
The Raw Steels Monthly Metals Index (MMI) moved sideways amid bearish steel prices, with a modest 1.75% increase from February to March. U.S. flat rolled steel prices stayed bearish over the past few weeks. Meanwhile, HRC prices remained 22% beneath their peak at the close of 2023 as they search for a new bottom. However, […]
Construction MMI: Potential Manufacturing Boom Could Impact Steel Prices
Month-over-month, the index experienced little movement. Overall, the Construction MMI (Monthly Metals Index) moved sideways, inching down just 1.2%. Steel prices moving downward placed some bearish pressure on the index. However, several significant factors continue to press on construction from both a bearish and bullish standpoint, including the Fed holding off on adjusting interest rates, […]
Automotive MMI: Automotive Market Improves, but Bears Show Up for Steel Prices
Month-over-month, the Automotive MMI (Monthly Metals Index) dropped by 3.03%. While the automotive market continued to improve overall, bearish pressure on certain steel prices like hot-dipped galvanized steel, ultimately forced the index down. Experts anticipate this bearish pressure to continue impacting both steel prices and automotive manufacturing in the short term. Despite this, the automotive […]
Raw Steels MMI: Steel Prices Decrease as Nippon Deal Faces Setback
The Raw Steels Monthly Metals Index (MMI) fell 11.17% from January to February as steel prices declined. U.S. flat rolled steel prices continued to slide after finding a peak at the close of 2023. Following a 2% decline throughout January, hot rolled coil prices fell over 5% during the first half of February. HRC prices […]
Raw Steels MMI: Steel Prices Weak Amid Backwardation
The Raw Steels Monthly Metals Index (MMI) rose 3.25% from December to January. U.S. flat rolled steel prices closed the year decidedly bullish. A nearly 14% month-over-month rise saw HRC prices easily outperform all base metals both during the month and throughout 2023 as a whole. Meanwhile, plate prices saw an upside correction after prices […]
Raw Steels MMI: Steel Prices Bullish as HRC Price Break $1,000/st
While the Raw Steels Monthly Metals Index (MMI) rose 6.43% from November to December, U.S. flat rolled steel prices remain decidedly bullish. By mid-December, hot rolled coil prices broke above the $1,000 per short ton mark for the first time since June. To date, HRC prices have risen almost 53% this year, outperforming all base […]
Renewables/GOES MMI: Index Drops & Green Energy Faces Challenges
The Renewables MMI (Monthly Metals Index) took a noticeable dive month-over-month, dropping by 10.41%. Indeed, neodymium, cobalt, and steel plate all suffered drops in price, making them the main culprits for the index falling. Meanwhile, the latest renewable energy news sources suggest green initiatives could be in for a rocky ride in 2024. This is […]
Construction MMI: Construction Spending Rises but Construction Index Falls
The Construction MMI (Monthly Metals Index) strayed from its sideways trend to drop 6.84% month-over-month. A drop in European commercial aluminum 1050 sheet prices was the main culprit in the index’s decline. Construction news sources indicate with steel prices finally flattening out in recent weeks, the index could face further bearish pressure. Despite this, construction […]
