Jennifer Kary

The Global Precious Metals MMI ( Monthly Metals Index ) experienced a significant rise month-over-month, shooting up 7.36%. The past month proved a whirlwind for the precious metal prices, with each metal reacting to shifting economic conditions and recent policy changes.

The Rare Earths MMI ( Monthly Metals Index ) experienced a spike in price action month-over-month, rising by 7.4%. The recent tariffs on China, the top global supplier of rare earths, caused a short-term upward trend for many of the elements in the index. Meanwhile, Ukraine’s mineral reserves have attracted considerable international attention, particularly from President Trump.

The Rare Earths MMI ( Monthly Metals Index ) experienced a spike in price action month-over-month, rising by 7.4%. The recent tariffs on China, the top global supplier of rare earths, caused a short-term upward trend for many of the elements in the index. Meanwhile, Ukraine's mineral reserves have attracted considerable international attention, particularly from President Trump.

The Automotive MMI ( Monthly Metals Index ) increased by 4.47% month over month. The primary culprit for the bullish sentiment was hot-dipped galvanized prices rising due to tariff anticipation from the automotive industry.

The Rare Earths MMI ( Monthly Metals Index ) moved sideways, edging up by a slight 1.82%. The global rare earth market has taken a significant hit lately, thanks to a combination of natural disasters and big geopolitical moves. A strong earthquake in Myanmar and the recent wave of U.S. tariffs have thrown this somewhat delicate industry into even more uncertainty.

The Construction MMI ( Monthly Metals Index ) broke out of its over 6-month-long sideways trend to pivot down 5.41%. This new movement outside of its sideways range could indicate more volatility in the short term than the index experienced in the past 12 months.

A striking aspect of the aluminum premium and the aluminum market turmoil currently unfolding after Trump’s aluminum tariffs is how differently it’s playing out in the U.S. versus other regions. While premiums inside of the U.S. are rising, outside the United States, aluminum premiums are actually falling. With U.S. tariffs shutting out or discouraging some imports, those metal volumes are being redirected elsewhere, leading to relative oversupply abroad.

The Rare Earths MMI ( Monthly Metals Index ) witnessed a significant rise in price action month-over-month, with a total increase of 7.67%. So far, the global rare earths market has been on a springtime rollercoaster. Between April 1 and May 2, 2025, prices for these critical elements saw abrupt swings, supply chains were tested by geopolitics and world powers brokered new alliances over minerals.

The Global Precious Metals MMI ( Monthly Metals Index ) rose month-over-month. Overall, the index saw a price increase of 5.11% as precious metals prices fluctuated and gold prices hit new record highs again.

The Rare Earths MMI ( Monthly Metals Index ) moved sideways, rising a modest 0.66%. Meanwhile, prices for rare earths may experience short-term stabilization in the upcoming months, primarily due to President Trump reaching an agreement with China to ease restrictions on critical mineral exports.