High Vehicle Costs Dampen Steel Market Momentum ...Middle East

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High Vehicle Costs Dampen Steel Market Momentum
Via AG Metal Miner The Automotive MMI (Monthly Metals Index) broke its sideways trend this past month, inching down 3.36%. Though all components of the index fell, hot-dipped galvanized steel experienced a particularly noticeable price drop, as did several other steel types.This could indicate a trend reversal. However, consumer purchasing must rise in order for a reversal to happen, which elevated new car prices are currently preventing. Overall, U.S. car sales experienced up-and-down performance throughout May compared to April.…

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