Manufacturing Boom Fuels Demand for Industrial Metals

Via Metal Miner Month-over-month, the Construction MMI (Monthly Metals Index) moved sideways for the fourth month in a row, only sliding down a slight 2.87%. Of all industrial metals, iron ore suffered the worst drop in price by far, hitting a 10-month low before a slight rebound. The main component holding the index up was aluminum 1050 sheet from Europe. The manufacturing boom in the U.S. construction industry continues to aid in the demand for industrial metals like steel and aluminum. However, high interest rates remain the talk of the town.…