Metal Prices Bounced Upward (Mostly) in the October MMI-Shanghai Metals Market

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Metal Prices Bounced Upward (Mostly) in the October MMI

Industry News 02:46:15PM Oct 19, 2016 Source:Metal Miner

by Jeff Yoders on OCTOBER 19, 2016

Our monthly MMI saw a boost in October as three metals tied for the biggest gain and markets seemed to tighten as manufacturers started to make decisions for their end of year and early 2017 spending.

There seemed to be a Q4 tightening across most of the metal markets we follow. Sure, the Rare Earths and Renewables MMIs were flat as a board yet again, but Copper, Aluminum, Stainless and Raw Steels all saw strong gains. Our Global Precious MMI gained again but almost immediately suffered a pullback after talk of a Federal Reserve interest rate hike in December and renewed strength from the U.S. dollar.

As always, we exercise caution when buying. Today’s gain could be tomorrow’s loss.

Key Words:  metal prices 

Metal Prices Bounced Upward (Mostly) in the October MMI

Industry News 02:46:15PM Oct 19, 2016 Source:Metal Miner

by Jeff Yoders on OCTOBER 19, 2016

Our monthly MMI saw a boost in October as three metals tied for the biggest gain and markets seemed to tighten as manufacturers started to make decisions for their end of year and early 2017 spending.

There seemed to be a Q4 tightening across most of the metal markets we follow. Sure, the Rare Earths and Renewables MMIs were flat as a board yet again, but Copper, Aluminum, Stainless and Raw Steels all saw strong gains. Our Global Precious MMI gained again but almost immediately suffered a pullback after talk of a Federal Reserve interest rate hike in December and renewed strength from the U.S. dollar.

As always, we exercise caution when buying. Today’s gain could be tomorrow’s loss.

Key Words:  metal prices