Raw Steels MMI: As steel prices fall, steelmakers look to scrap

The Raw Steels Monthly Metals Index (MMI) rose by 12.7% month over month to 121, as scrap prices made gains this past month. U.S. steel prices continue to retreat from their 2021 peaks. At the start of the year, hot rolled coil prices sat almost 18% be…

The Raw Steels Monthly Metals Index (MMI) rose by 12.7% month over month to 121, as scrap prices made gains this past month. U.S. steel prices continue to retreat from their 2021 peaks. At the start of the year, hot rolled coil prices sat almost 18% below the October high. US steelmakers invest in scrap...

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Copper MMI: Sideways trend persists, Fed fosters bearish sentiment

The Copper Monthly Metals Index (MMI) rose 0.8% for this month’s reading. Copper prices continue to trade sideways within a big time frame, a resistance and support channel. While prices have consolidated within the channel, there are certain points of interest marked as key levels that would indicate a macro bullish continuation or macro reversal…

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The Copper Monthly Metals Index (MMI) rose 0.8% for this month’s reading. Copper prices continue to trade sideways within a big time frame, a resistance and support channel. While prices have consolidated within the channel, there are certain points of interest marked as key levels that would indicate a macro bullish continuation or macro reversal...

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Aluminum MMI: Energy crisis hits production, buoys prices

The Aluminum Monthly Metals Index (MMI) rose 4.8% following two consecutive months of decline. After a sharp 7.6% drop in the early days of November, prices appeared to have found a bottom and formed a bullish “cup and handle” technical pattern around the summer support levels. Aluminum prices have broken out of the bullish pattern…

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The Aluminum Monthly Metals Index (MMI) rose 4.8% following two consecutive months of decline. After a sharp 7.6% drop in the early days of November, prices appeared to have found a bottom and formed a bullish “cup and handle” technical pattern around the summer support levels. Aluminum prices have broken out of the bullish pattern...

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Raw Steels MMI: Steel prices decline; more tariff negotiations

The Raw Steels Monthly Metals Index (MMI) dropped by 7.7% month over month to 108, as steel prices fell in November. The U.S. steel market continues to show weakness. As HRC prices endure week-over week-declines, mill lead times have narrowed to historically average ranges. Want MetalMiner directly in your inbox? Sign up for weekly updates now….

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The Raw Steels Monthly Metals Index (MMI) dropped by 7.7% month over month to 108, as steel prices fell in November. The U.S. steel market continues to show weakness. As HRC prices endure week-over week-declines, mill lead times have narrowed to historically average ranges. Want MetalMiner directly in your inbox? Sign up for weekly updates now....

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Stainless MMI: Stainless steel market tight, nickel shows volatility

The Stainless Monthly Metals Index (MMI) held flat this month, while the stainless steel market is tight. Nickel prices appear to have consolidated following the late November spike. As with other base metals, nickel has started to show a high degree o…

The Stainless Monthly Metals Index (MMI) held flat this month, while the stainless steel market is tight. Nickel prices appear to have consolidated following the late November spike. As with other base metals, nickel has started to show a high degree of volatility and uncertainty that would suggest a breakout of the current trading range...

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Copper MMI: Copper prices consolidate after October spike

The Copper Monthly Metals Index (MMI) held flat for this month’s reading. After the mid-October spike, copper prices have begun to consolidate. Any bullish technical patterns are at risk of invalidation, as prices appear to trade consistently lower. Additionally, its failure to break out of any bullish structures within smaller time frames suggests a weakness…

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The Copper Monthly Metals Index (MMI) held flat for this month’s reading. After the mid-October spike, copper prices have begun to consolidate. Any bullish technical patterns are at risk of invalidation, as prices appear to trade consistently lower. Additionally, its failure to break out of any bullish structures within smaller time frames suggests a weakness...

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Aluminum MMI: Aluminum prices move sideways, production to increase

The Aluminum Monthly Metals Index (MMI) fell for the second consecutive month, this month dropping by 3.9% as aluminum prices trended sideways. After a sharp 7.6% drop in the early days of November, aluminum prices appeared to have found a bottom. Pric…

The Aluminum Monthly Metals Index (MMI) fell for the second consecutive month, this month dropping by 3.9% as aluminum prices trended sideways. After a sharp 7.6% drop in the early days of November, aluminum prices appeared to have found a bottom. Prices then traded sideways at summer support levels. Currently, aluminum is in a period...

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Stainless MMI: Stainless prices beneath peak but remain bullish

The Stainless Monthly Metals Index (MMI) rose by four points month over month. Nickel continues to be within an overall uptrend. However, LME prices experienced significant volatility throughout October. Prices dropped as low as $17,810/mt in the early…

The Stainless Monthly Metals Index (MMI) rose by four points month over month. Nickel continues to be within an overall uptrend. However, LME prices experienced significant volatility throughout October. Prices dropped as low as $17,810/mt in the early days of the month before they spiked to $20,475/mt by Oct. 21. Prices have since retraced and...

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Raw Steels MMI: Steel prices, demand soften

The Raw Steels Monthly Metals Index (MMI) dropped by 2.5% month over month. Stop obsessing about the actual forecasted steel price. It’s more important to spot the trend.  Auto steel demand shows weakness Steel prices appear poised for a decline in coming months as auto steel demand shows weakness and new capacity is set to…

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The Raw Steels Monthly Metals Index (MMI) dropped by 2.5% month over month. Stop obsessing about the actual forecasted steel price. It’s more important to spot the trend.¬† Auto steel demand shows weakness Steel prices appear poised for a decline in coming months as auto steel demand shows weakness and new capacity is set to...

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Copper MMI: Tight copper market sees high prices

The Copper Monthly Metals Index (MMI) rose by 3.5% for this month’s reading. Copper had a phenomenal rally since 2020 that saw LME prices ascend nearly 132% to $10,720/mt in May 2021. Since the summer of 2021, however, price action indicates some consolidation after prices tested the $10,250/mt mark earlier in October. From a technical…

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The Copper Monthly Metals Index (MMI) rose by 3.5% for this month’s reading. Copper had a phenomenal rally since 2020 that saw LME prices ascend nearly 132% to $10,720/mt in May 2021. Since the summer of 2021, however, price action indicates some consolidation after prices tested the $10,250/mt mark earlier in October. From a technical...

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