February MMI: Box Out and Get Ready for Big Price Rebounds

We warned last month that the mostly small losses the prices our MetalMiner IndX experienced were caused by investors taking profits.

Click Here for Current Metal Prices

Our suspicions were confirmed when almost all of our sub-indexes had big price rebounds this month. The Automotive MMI jumped 12.2% Raw Steels 8% and Aluminum 6%. Even our Stainless Steel MMI only dropped 1.7% and has taken off since February 1 as nickel supply is even more in question now with both the Philippines and Indonesia’s raw ore exports in question.

The bull market is on for the entire industrial metals complex. Last month’s pause was necessary for markets to digest gains but the strong positive sentiment for both manufacturing and construction shows no signs of ebbing in the U.S. and Chinese markets.

[download-button url=”https://agmetalminer.com/monthly-report-price-index-trends-february-2017″%5D Free Download: Price Trends in the February MMI Report[/download-button]

The post February MMI: Box Out and Get Ready for Big Price Rebounds appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

from Precious Metals – Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner https://agmetalminer.com/2017/02/13/february-mmi-box-out-and-get-ready-for-big-price-rebounds/

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