Geopolitical Tensions and Rising Interest Rates Damping Metal Demand

Via Metal Miner  The Construction MMI (Monthly Metals Index) continued to hold sideways month-over-month, without significant bullish or bearish pressure on industrial metals. Overall, the index saw a slight 2.56% uptick in price action. However, it failed to break out of its 10-month-long sideways price range. Weekly Midwest bar fuel surcharges dropped significantly, which pulled the index down. However, Chinese steel rebar witnessed a price increase, pulling the index up. Once again, there was significant pressure in both directions. Despite…