Auric Quanta Strategies

Author: Matt Shigella

  • FNI in Flux: The Market After the Meta Shift

    FNI in Flux: The Market After the Meta Shift

    I’m an idiot and said that Nighthawks are Ferox T2, but alas that isn’t true. Post updated.

    The big news last week was Legion’s first patch went live on Friday the 9th of this month. The patch devastated entire fleets in seconds without a single shot fired. If the destruction had occurred, the real world value destroyed would have reached the record books.

    In short, the rail gun meta was significantly nerfed by the patch, along with a host of many other buffs and nerfs across the empires’ fleet of ships. The patch did more damage than perhaps the Goon/Horde “war.”

    The rail gun meta has been popular from the introduction of the Ferox Navy Issue(FNI) in late 2022 until now. Three years of dominance of the hull that now has been undone, providing a more varied approach to fleet doctrines.

    Is CCP no fun? Depends on who you ask, but remember EVE pretty much has unlimited ways you can play spaceships, when a meta becomes too locked into fleet composition for too long, the game becomes stale.

    Stale gameplay leads to complaints and complaints result in lost subs, and you get the picture.

    For today’s post, I am going to look into the FNI after my initial post in June and how the market has changed throughout the months leading up to the patch, and the initial market reaction to the nerf.

    Target Scope

    Target Market: The Forge

    Date Range: 01-05-2025 to 15-09-2025

    Commodity: Ferox Navy Issue (FNI)

    Observations

    As the trend lines show, the hull was generally in decline. Without much destruction, the ask volume increased, depressing the ask price.

    Looking at the graph, the FNI’s decline started well before the patch, showing signs of weakness in late June when it was fast becoming obvious that the Goon/Horde war wasn’t going to continue in the same of the initial skirmishes.

    On the bid graph things look more volatile, with a one day trough spiking the profit margins (below). While spiky, the profit margin values have stayed relatively stable and flat, though a precipitous fall has happened in the days after the 09-September patch.

    In my earlier post in June (highlighted in sky blue), I spotted the inversion of the market, however, despite inverting again, the supply of FNIs outstrips demand.

    Going into the final weeks before the patch, supply spikes to the second highest point but as the patch announcement and notes trickle out, FNIs are removed from the market.

    Demand sees signs of strengthening, but the reasons why are unclear. I don’t predict for the market to fully recover given the changes in the meta.

    Analysis

    Is the FNI doomed for all eternity? Depends. Clearly, the current meta of railgun boats is going to change the doctrine make up going forward. Discussing this with corpmates and others online, the Vulture doctrine isn’t going anywhere. While the demand for FNIs will decrease, T1 Feroxes will continue to have use in terms of production of Vulture for fleet warfare.

    To be fair to the FNI, while it’s nerfed, I don’t foresee a major crash in usage but it will have less preferential usage and create other opportunities for new ships to enter into fleet doctrines.

    Given that FNIs are a separate production line and based on faction dog tags/currency and LP, I imagine demand for both the currency items and the Caldari LP, and therefore prices, will decrease, which will not be significant. The currency items and LP are often used for multiple LP store items.

    Industrialists: This is your time to scale back FNI production, and start working with fleet commanders on the next set of doctrine fittings. Continue producing standard T1 Feroxes for T2 production as Vultures, which are still in use in their related game content. The FNI isn’t disappearing, rather its ubiquity is going to decrease. If you are building a large number of these you best bet is to reduce the amount you’re producing and invest production in a more diversified manner.

    Station Traders: Hold any further investments into FNI until fleet doctrines start to solidify. I can’t say where to put your bets, as a dominant fleet doctrine has yet to shake out. FNIs are not going anywhere, but going forward fleets will be more varied, which for the long term health of your portfolio, start diversifying now will starve off any problems.

    Overall, the markets are shifting due to the recent nerf by the patch on 09-Sept 25 and its effects on fleet composition. The markets should be able absorb this shift and I don’t foresee a crash unless another hull becomes dominant in the fleet doctrine. While change can be difficult in ship doctrine, for both the long term health of the game and the economy it is necessary.

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    Sources

    Adam4Eve API – Market Price History

    The Oz

    Discord

    Reddit

  • Salvage Bittervets: Nothing too weird about crashing the market

    Salvage Bittervets: Nothing too weird about crashing the market

    This post is a week late because my boyfriend was in town last week and I chose to spend time with him. Real life always comes first.

    Eve is known for its high octane, hardcore PvP culture, though more in terms of blowing up ships and ganking. Given this is a market blog, we are focused on Market PvP everyday. Today, I’m going to discuss the T2 Salvage Market, which is undergoing a pronounced shift given the recent changes in exploration.

    Target Scope

    Target market: The Forge

    Date range: 03/07/25 – 03/09/25

    Commodities:

    • Impetus Console
    • Power Conduit
    • Thruster Console
    • Single-Crystal Superalloy I-Beam

    All chosen off of TheOz.Space’s The Week’s OZ Report Dashboard, under priced list for the week of September 1st.

    The Data

    I start off with the ask and buys of all four components and the trend is down across the board.

    There are plenty of spikes and valleys but not ones that are producing strong outliers. As you can see there has been a general decrease from the start of July before the 11 July exploration patch. The rate drop differs after the date, so to apply a blanket statement on the rebalance effect, other than salvage was already going down isn’t the story here.

    Spread percentages are rocky but steady but in looking at the Thruster Console, it rose 150% points from 11 July to 03 September, which was beginning of a three day dip in the component that wasn’t experienced by any other of the components studied. The most volatile component was the Single-Crystal Superalloy I-Beam with some bigger spikes but for the most part, the salvage profitability remained stable.

    I went in for a deeper dive into the volume for the Thrusters Console to see if I could pinpoint what exactly happened during that initial crash on 11th.

    The crash in spread was not due to a supply and demand shift, but rather the shock of the market. However, given that the shock was only evident in the Thruster Console, that should highlight the importance of the material.

    Additionally, I know of at least one whale that is heavily influencing the demand in the salvage market resulting in these waves of demand that has pushed the baseline higher.

    Analysis

    With the Thruster Consoles being prime materials in velocity rigs, the need for them is one of constant demand. For the markets, demand is currently high, whether this actual demand for production demand versus speculators in the market is quite another thing.

    Salvage is known for intense speculation. Sir SmashAlot is well known in the EVE station trading community, who is regularly featured on Twitch streamer and market commentator Oz, for being a trillion ISK salvage speculator. Clearly some of the demand above is related to Sir SmashAlot getting into the market at a time when the spread percentage crashed, thus making it much easier to increase demand and move the needle in terms of baseline demand.

    It should also be noted that, demand has not consistently outstripped supply, which suggests that the whales are biding their time to collect and then dump at the right time or at least release in spurts to not overwhelm the market.

    Given the market is flush and healthy and so is production, there should be no problems with salvage prices becoming volatile overall. While supply is getting further buffed, this will depressed prices, at least for the moment, so again whales are building a stockpile.

    This generally means we are going to see hull prices continue to sink and may offset some of the pyerite costs.

    Recommendations

    Explorers: Amass your salvage and hold onto these items until they are worth more. I would prioritize data sites over relic sites because the data market is still solid, but given the exploration changes affect both types of exploration sites, it is likely data salvage is also likely getting depressed as well.

    Station Traders: This is a buy and hold situation. I don’t see spread really opening up until the prices stabilize and CCP finding equilibrium in the salvage markets vs production.

    At the end of the day, it’s a lot of whales moving the markets but I would argue to hold onto your salvage until there’s better stabilization of the drop rates and production rates really ramp up.

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    Sources

    Adam4Eve API – Market Price History

    EVE Online July MER

    The Oz

    Discord

    Reddit

  • That’s a Gneiss Venture you got there: Pyerite, Low Sec, and CCPlease

    Pyerite seems to be the consistent story from week to week this month, and the elephant in the room when online with my corp. In the past couple of months, I have been considering creating a mineral index because of its centralness to industry, and because for the past two weeks, all I have thought about is pyerite, industry, and markets, leaving less time for other things to enjoy.

    In the resulting discussions from last week’s post on July’s MER, someone chimed in with the fact that other sources of pyerite are going unbuffed by CCP, both R4 moon ore and Gneiss.

    The problem with R4 moon mining is unprofitable in comparison to Metenox moon mining, with R4 moons losing their luster as other moon goo becomes more popular with miners, industrialists, and market players. The problem with that is, well, people are leaving pyerite trapped in the moon and not trading in Jita.

    Secondly, while low sec enjoys some of the best fights in the game, the mining deposits are a shadow of its High and Null secs brethren, meaning that gneiss is only available for mining in sectors that aren’t conducive to bringing out a big mining fleet. At least with Null Sec, the idea is that the alliances out there are often running their own fleets in the safety of their bloc.

    As one can see from these graphs, there isn’t much in the way of gneiss making large profits. While these aren’t demand graphs, clearly the lack of bid activity signals that, at least Iridescent Gneiss, is not in hot demand from buyers.

    It is important to note that while the spread percentage of Iridescent Gneiss has skyrocketed in the past month, it may not last. Given that all three types shown here do seem to be on the rise, with the ask price, along with a weakening bid price, the margins seem to suggest that the market has two ways it can go, and it is in a standoff.

    Running the volume numbers on Prismatic Gneiss suggests that there is significant demand; however, it is the ask market controls the profit margins. This sets up a price tension that one side is going to have to cave on. Given that the ask volume is trending down, the bid market is clearly meeting the sellers at the ask price, thus boosting the profit margin. Then this drops demand by extension, but also creates a problem with buyers snapping up all the available ore on the market, creating some issues in the long run with supply.

    These graphs show CCP is not incentivizing low sec miners to get out to the belts. Given that just regular Gneiss reduces to 2000 units of pyerite, if Gneiss spawn rates were higher, there would be more to effectively reduce down into pyerite, to help the market recover. But there would also be a need to help manage belt security, which CCP will largely leave the miners to the mercy of gankers.

    While there is some safety in numbers, mining vessels aren’t all that speedy to warp out and so that could cause more problems. There goes your 1B ISK ship along with all that ore. Mining fleets could ultimately do easy freelance security jobs, getting newbros into low sec and into pvp, but that also could present a mismatch of skill between the gankers outfitted in strong fits and pvp skills and newbros with fits that are going to ultimately be underpowered by lack of pvp skill and experience.

    Again, I think at some level that since High Sec mining is the second highest, I do think the high sec buffs are more about helping newbros get into the game and build some ISK wealth so they can ultimately go long term with the game. However, newbros can only do so much mining, especially when the high sec asteroids don’t bring in a lot of pyerite and minerals anyway. Clearly, that is not enough to meet the demand of pyerite and lower the price and sending them out to low sec without proper protection only to get ganked is only dissuading them from continuing.

    The sudden influx of pyerite would have the market go haywire, which is probably the reason why CCP is ultimately being highly, and perhaps, overly cautious about pushing moon goo and gneiss too far, but the problem is they still think the price is too high.

    The likely story is that most of the pyerite being mined is now being sent through the private contract markets, which is causing the inability to move the price in Jita. At some point, that pyerite does need to come back to the Jita market to affect the price.

    Ultimately, the larger problem is CCP looking at the wrong signals on pyerite and ore demand and in order for them to fix the market in the way they see fit they need to be making investments in low sec as a starting point.

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    Sources

    Adam4Eve API – Market Price History

    EVE Online July MER

    The Oz

    Discord

    Reddit

  • Commentary: July 2025 MER

    Welcome back to Auric Quanta Strategies’ Market Analysis blog. I have been away in real life enjoying my summer and ready to head into the fall strong. I am going to ease back into posting and only post on Thursday for the next few weeks and we will see how the rest of my schedule in real life, corp and business life, and FFXIV all mingle, because somehow I have to keep moving mountains while getting enough sleep.

    The July Monthly Economic Report came out this Monday, the 18th of August, which is very late. Supposedly, CCP had issues with their data processing, which seems odd to me that they have such issues given the vast amounts of data they produce with ESI.

    The hot topic on everyone’s mind is the status of Pyerite. CCP buffed the output of Pyerite by 10% from Scordites and Morduniums on the 31st, after buffing it in late June.

    Pyerite is a foundational mineral in T1 hulls and modules, though T2 hulls and modules are not as constrained by the lack of pyerite on the public markets. So without pyerite, industry begins to halt and there in lies the problem. No ships and modules to build, it becomes more expensive to fly.

    Other minerals continue to push the Mineral Price Index down, but the price of Pyerite remains fixed at around 30 ISK, which CCP has deemed too high of cost.

    This calculus is informed by the fact that production, both primary (reactions, ore reprocessing, PI, the like) and secondary (modules and hulls), is down in terms of their price indexes and very dramatic fall in terms of production value. However this indicates that the markets have not lost a lot of value, and thus production remains to be viable in the market.

    But what does this mean for pyerite and CCP’s push to drive down prices?

    Effectively, CCP is trying to push commodities and finished products’ prices lower to effectively make it cheaper and easier to fly, which means more ISK flow and, potentially, more PLEX purchases and redemption.

    However, given the multiple buffs of pyerite, supply and demand have not fully reconciled. Looking at the graphs below, there is an uptick in mining value and there is an upswing in asteroid mining volume in null sec after a significant decrease in June suggesting that the alliance shuffle and moves have completed and mining resumes at rates more in-line with numbers from March.

    However, key in this is that null sec mining is up, not high sec, and given that asteroid ore that melts into pyerite is not very common in null, means CCP’s attempts to get miners out on the belts will have limited success, at least outside of high sec.

    That may be strategic on CCP’s part to get new players a piece of the action they need to get going into solidifying their engagement. The moneyed oldbies and industrial titans need to realize they cannot sustain EVE’s business model indefinitely and that investors in Pearl Abyss cannot wait much longer for EVE to remain a niche of a niche world. That’s the unfortunate reality of late stage capitalism.

    Additionally, the MER does not take into account private contracts and corp/alliance buybacks, so it might be making pyerite from CCP’s point of view scarcer than it really is on the ground. This then would explain why the Mineral Price Index and production price indexes are not falling at an even pace. This again suggests that CCP wants newbros actively producing and often times don’t have a strong corp presence.

    Takeaways

    Miners – Get out on the belts and pop those R4 moons. This is prime opportunity time to get lots of ore in high sec. Low sec also needs mining activity but considering low sec is as, if not more, dangerous than null and sov null these days, do take a few big guns out with you. Low sec has more Mordunium, which reduces into purely pyerite, so if you don’t have access to R4 moons, this is a prime reason to be out in low sec.

    Industrialists – No big takeaways other than continuing to produce at the rates you are at right now. If you are short on pyerite and don’t have access to cheap pyerite and/or don’t feel like dealing with the public markets, shift your lines to less intensive pyerite blueprints and focus on salvage now that has effectively lost value on the market given the recent changes in exploration.

    Newbros – It’s your time to shine. Get those Ventures mining Scordite, but also fire up the manufacturing modules and get producing. To be super successful takes time, but give it a go and see how it feels!

    In short, we will have to sit tight and see how the recent buff on pyerite is ultimately consumed in production in August but we won’t know until the August MER report is released next month.

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    Sources

    EVE Online July MER

    EVE Tycoon

    The Oz

    Discord

  • Commentary: June’s MER & Minerals

    Commentary: June’s MER & Minerals

    CCP dropped the Monthly Economic Report (MER) for June in the morning (USTZ ET) of July 10th.

    There are some nice market nuggets inside the report and at least two I’ll highlight here.

    The Data

    • Mineral Price Index rose 9.5% suggesting that 1) the pyerite buffs had limited effect on the monthly index since they were late in the month, 2) according to analysis by Oz, pyerite bounced and went back up to pre-patch levels, 3) if pyerite is not the influencing mineral, there’s another shortage somewhere in the markets that’s causing a small rebound.
    • Primary production (so reactions, mining reprocessing, and assorted production) is up 9.5% while secondary production (modules, hulls, components, etc) were down 3.3% suggesting somewhere there’s a production blockage.
    • Mining value is also down significantly, correcting from the big boom in May.

    Analysis

    Overall, the markets are starting to correct from the highs of May. This suggests that war preparations were well under underway in May, and if people were watching the markets close enough, industrialists might have been able to keep themselves from losing money on the markets as demand would eventually end, and production lagging behind demand. This puts my post on the Ferox Navy Issue hull within a broader context, because the producers that were early on the markets were the most successful at getting the best ask price.

    While the battles between the PandemicHorde and Imperium were large, the sheer lack of battles turned them ultimately into skirmishes, thus reducing destruction and reducing demand.

    In addition, the lack of pyerite in the market has also hamstrung production efforts with industrialists, probably lightening their load of production to strictly items without large quantities of pyerite needed or only producing only needed items that need pyerite. This is also emblematic of a situation where the fleet stock was already high and that those that saw the pyrite crunch coming, were likely over producing in advance.

    The lack of minerals is also likely due to lower mining values because of lack of full scale mining ventures out in the belts. This likely due to the most recent null sec reorganization and movement, which suggests other minerals are going to get squeezed similar to pyerite.

    I’m already seeing some evidence in the mexallon markets of an inflation of demand so until null sec movement settles down, I suspect the mineral market and the EVE Mineral Price Index will continue to rise.

    Takeaways

    • Miners: If you aren’t already mining for pyerite, and to a lesser extent mexallon, get out to the fields. Feel free sell directly to bids because this point that is where the biggest demand is. If you aren’t part of the sov null and generally stay in high or low sec, you should be able to capitalize.
    • Industrialists/Producers: Formalize contracts with miners (or freelance jobs) to get minerals to you. The market is still trying to find where it will land, especially after the patch, and the market doesn’t seem to be willing to let pyerite to relax. Since that is the case, I would recommend staying off the markets and continue to work through contract.
    • Traders: If y’all are reason that pyerite is not settling, let it go before you crash the entire economy (at least on the market boards). Pyerite is crucial to the game and why CCP is willing to inflate the availability. The minute it gets expensive to fly ships, the minute everything around the game stalls content-wise. Not everyone has billions and trillions of ISK in reserve and the real world economy is starting to slow, that creates a very risky situation for CCP and EVE, who rely on PLEX purchases and subs, and the minute it becomes more expensive to play, more players will drop out of the game.

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    Sources

    EVE Online June MER

    EVE Markets – Mexallon

    The Oz

    Discord

  • Heat Index of 37°C: O-Isotopes Heating Up

    Heat Index of 37°C: O-Isotopes Heating Up

    It is hot, humid, and sunny today where I live, but also things in Jita are also hot on the Ice Product market with O-Isotopes correcting course as Null Sec alliances play musical regions. Let’s get right into the graphs for today’s short update post.

    Market Scope

    Commodity: O-Isotopes

    Time Frame: June 11-22

    Market: The Forge

    Observations

    First a clarification, I have been using the ask/bid/volume high values, however it was not the best measure I could be using to understand the markets long term or shifting through the noise of prices or volumes that were outliers. Going forward, I’ll be using ask/bid/volume average values to better track long term trends, and find the signals with greater clarity. Better Analysis = Better Outcomes

    As you can see in the graph below the Ask Price has plateaued twice, but on the 20th the price started rising. From 17-22 of June, the price has risen 13.08%.

    The bid price has also been rising, however, that has only risen 3.72% since the 17th, which was the end date to my Thursday market post, which has only plateaued on the 21st.

    The compression from the flat ask, rising bid price from last post has rebounded and while the number is less than the initial rebound the spread % difference is still very high, with a rise of 1626%.

    If we look at the Volume Dynamics of O-Isotopes, we are seeing a closing in on inversion again. Clearly, miners feel comfortable with now selling their refined ice products on the Ask market rather than going directly to the buyers that need the ice.

    Analysis

    Clearly with multiple moves happening in Null Sec, the price is increasing, but we are seeing the rise in ask volume. The abundance of buy orders is now for the most part over given moves are finishing their final stages and thus O-Isotopes are no longer needed.

    Miners will have to be careful not to over sell the market because that could create a problem for traders, so given the trends in the market, I am forecasting that the market will invert, driving prices and spread down once again.

    Recommendations

    • Miners can still sell directly to buyers, but be careful in adding to the Ask Volume.
    • Traders, this is not an investment, unless you are going to buy into the dip, but honestly, I would hold off.

    Until the market can stabilize, I suggest waiting for any real investment either in product or trading. Additionally, I expect a dip in spread, however, I don’t expect a deep negative spread coming like on the 17th, but given the fact the Null Blocs are solidifying their new territories, demand and price pressures should be easing on both sides and there should be a stabilization of the ask/bid prices.

    Part of a Null bloc, what is your take on this? Is the price growth hampering your wallet? Miners, what is your preference, either sell directly to buyers, or are you going more towards the ask market? Comment below.

  • Too Cold to Hold: Ice Product Markets Aren’t Melting Yet

    Too Cold to Hold: Ice Product Markets Aren’t Melting Yet

    [Early Correction]: Goons are moving, just not to Delve. Wires got very crossed do to getting intel from different places, but also real life has been very active with a lot things going on, thus shifting attention there rather than in EVE.

    The economic war machine must feed, and I found some timely intel on ice and ice product trends on Reddit—perfectly coinciding with the revelation that Asher Elias has ordered the Goons to move.

    Earlier this week (Monday), I shared a preliminary graph and post on Reddit. Admittedly, my initial numbers were off due to some less-than-stellar programming on my part. However, the core market trend remained valid, and after finalizing the data through Tuesday, June 17, there’s plenty to report.

    Market Scope

    Commodities – Factional Ice Products

    • H – Isotopes
    • He – Isotopes
    • N – Isotopes
    • O – Isotopes

    Time Frame – 01 June to 17 June 2025

    Market – The Forge

    Observations

    The market for ice products has and is highly volital and the move order did nothing to help things.

    As you can see while the ask price stays relatively stable for everything but He-Isotopes. However, the bid prices for all shoot up.

    The spread percentage graph is a graph of valleys and peaks:

    He-Isotopes (June 15–17)

    • Bid Price: +23.56%
    • Ask Price: +44.65%
    • Spread %: +269.46%

    O-Isotopes (Same Time Frame)

    • Bid Price: +26.73%
    • Ask Price: +0.11% (flat)
    • Spread %: -222%

    For the Volume graphs, we see strong demand for He-Isotopes

    Standard inverted market, when Ellis gives the command to move the He-Isotopes Ask Volume jumps nearly 600%.

    The O-Isotope market shows inversion, but if you look back to the spread percent, this should create a situation where the ask price goes up because the margin should be greater than a loss. However, the ask price remains flat and the bid price spikes causing margins going far down.

    Analysis

    For O-Isotopes, demand appears driven by aggressive, even desperate, acquisition strategies. Ask prices have flatlined, creating a compression scenario, buyers want in, but sellers aren’t moving enough product.

    This fits with logistics trends: the Goon freight fleet relies heavily on Gallente ships, requiring large volumes of O-Isotopes. The limited ask volume isn’t enough to support a major fleet move. While traders briefly increased volume, that surge collapsed almost immediately.

    Meanwhile, the Amarr-based He-Isotope market is behaving more normally, following expected logic under stress.

    Recommendations

    For Traders:

    This is a bad market to be in, at least for O-Isotopes. If you’re late to the Helium play, that ship may have already sailed. I expect the market to correct soon as the move completes. If you are already committed and are selling, raise your prices ASAP, otherwise you might miss the benefits.

    For Miners:

    Now’s your moment. Hit the high-sec factional ice belts hard. Push back against bots, farmers, and bullies. With null sec heating up again, we may be watching the start of a “Roman Empiring” scenario, where Goon sovereignty stretches too thin.
    (Special thanks to u/PomegranateSlow5624 for rallying miners in Monday’s Reddit thread.)

    The command to move into Delve didn’t just ignite military logistics, it sent shockwaves through the ice product markets. The bid-ask spread behavior, volume shifts, and compression dynamics reveal deeper patterns about faction fleet preferences, supply chain stress, and speculative surges.

    Helium-Isotopes may have already crested, but Oxygen-Isotopes are showing signs of dangerous compression—a situation where traders risk squeezing margins into the red, especially as ask volumes stay stagnant.

    I will continue monitoring these disruptions across regional markets and commodity types. This analysis is part of my ongoing commitment to delivering grounded, actionable economic intelligence for capsuleers who want to stay ahead of the curve.

    Want targeted insights for your corp, alliance, or industrial logistics?
    Commission a custom market report or subscribe to weekly updates at auricquantastrategies.space

    Spotted something in the market I didn’t?
    I welcome feedback, counterpoints, and collaboration. Let’s make sense of New Eden’s economy together.

    Sources

    Background Information

    Reddit

    Twitter

    Market Data and Code Framework

    Adam4Eve API

    EveRef

    Python

    • matlibplot.pyplot, pandas

    Jupyter Labs

    Anaconda Distribution

  • Quick Preview: Vulture Market Collapse Incoming?

    Quick Preview: Vulture Market Collapse Incoming?

    Before I drop the Auric Intel Report preview later this week, here’s a snapshot of the Vulture market:

    📉 Ask prices down 30% (28 May – 15 June)

    📉 Bid prices down 22% (28 May – 15 June)

    We’re seeing fast-moving price action and likely early signals of a doctrine shake-up or at least a signal the Horde is uninterested in the Goons. Stay sharp.

    🗓 Friday: Report preview and goes live

    📦 Later this month: Full Vulture doctrine breakdown

    → Make sure you’re subscribed so you don’t miss the drop.

  • How One Comment Rebuilt My Market Strategy

    So yesterday when I posted my data from my blog post on r/Eve on the High Slots of the Vulture Doctrine Fit, I got a great response and it was full great comments and conversations that forced me to really reevaluate my approach to my data and my recommendations for you all.

    So I wanted to highlight and address some of the comments directly here on the blog in order to keep the conversation going.

    The Numbers

    • 14k Views in <48 hours
    • 39 (including my responses) High Quality Comments within 24 hours of posting
    • 87% upvote ratio

    The Comment That Changed Everything

    This comment here forced a full reevaluation of my data setup. Up until now, I’ve been using a lightweight set up, using the Adam4Eve API, to get quick and reactive signals. The goal in using this data for my blogs and Reddit posts was and is to deliver timely, actionable insights based on accessible data, but quickly put together. While this data can provide short-term market move signals, they aren’t the best signals I can produce for sharper, more powerful recommendations.

    To that end, I will move away from APIs and move towards building a local, queryable database using the half hour market snapshots from EVE Ref. That said, if I need quick insights, the API is pretty much always there. The plan was always to move towards a more powerful set up, but this comment forced my hand.

    This will allow me to go beyond basic volume and price snapshots, but deeper analysis like volume-weighted average prices (VWAP), margin bands, and trade velocity.

    Many thanks to the valuable feedback from u/, I am excited to evolve my approach and deliver stronger insights and analysis for traders and industrialists.

    The Comment That Made Me Blush and Want an MBA

    Yes.

    I am trying to effectively live out a dream of being a financial analyst and this just tickled me.

    Long story short, I am more of a “save the world” type then a “plunder the world of its riches” type, but I have strong business acumen and a strong inclination towards workaholism. I would excel in the finance sector, but I’d burn out so fast.

    Burnout is not an option any longer for my life, and while I would love being a finance bro in NYC, I am also not in love with the long hours and general toxic work cultures of Wall Street and Midtown.

    So I play one in EVE, because that is my lane and I get to work on my skills for something I do also feel called to and make the world a better place. Plus I am just a data nerd and any data is actually kinda fun once you get the hang of it.

    To bring it back around — while this post turned into a bit of a reflection on method and motivation, my core goal remains the same: to provide timely, actionable, and increasingly powerful market insights for EVE traders and industrialists.

    The community feedback, especially on Reddit, has pushed me to raise the bar — moving beyond quick API snapshots and toward deeper, more rigorous analysis using EVE Ref market history. Expect upcoming reports to include metrics like VWAP, margin bands, and trade velocity, designed to support real in-game decisions, not just theorycrafting.

    If you’re into the econ side of EVE, or just want better tools for your trade strategy, subscribe to the blog or jump into the conversation on Reddit — your feedback is shaping this in real time.

    Let’s keep raking in that sweet ISK. o7

  • Market Report Glance:First Look into Auric Intel Reports: Warfare Vulture Doctrine Fit – High Slots

    Market Report Glance:First Look into Auric Intel Reports: Warfare Vulture Doctrine Fit – High Slots

    So I will releasing a report on the (Horde) Vulture Doctrine Fit for ISK on Friday June 20th. The report will cover all the modules in the doctrine based on kill reports during the June 04 Battle for the Vulture, the preferred Command Fleet Ship.

    The ship has bonuses for railguns which I will be highlighting the 250mm Railgun II in this post today, along with the Skirmish Command Burst II module.

    Market Scope

    Commodity – 250mm Railgun II and Skirmish Command Burst II

    Sample Regional Market – The Forge

    Time frame – 15 May 2025 to 11 June 2025 (12:30 USTZ EST)

    Observations/Analysis

    The 250mm Railgun II has seen some things during this war and the trends in The Forge is an interesting case of oversupply (ask volume Increased 466.24% from 04 June to 11 June) while not experiencing strong price spread disruption.

    Overall the price is above historical levels but both the ask/sell and bid/buy prices have fallen dramatically (Railgun is in Blue):

    From the 04 June battle to 11 June, the ask price fell 29.71%.

    From the battle on the 04th to the 11th, the buy price fell 18.74%

    That said the price of both ask/sell and bid/buy has not seen dramatic spikes either, remaining fairly flat, suggesting that prices are stable and that right now the oversupply isn’t causing deflation, but the market (the price drop) is signalling that should the oversupply continue and the spread starts to compress, deflation will occur.

    As in the above Spread % chart, the Skirmish Command Burst II’s price is showing more normal behavior for a commodity during wartime. That said the spike of SCBII after the 04 June battle is clearly showing that there was an interest in the module. The spike was an increase of 339.81% between 04 June and 06 June suggesting people were expecting to use them when they bought them. When there was no battle the price fell below where it was on the 15th of May.

    As we can see here around the same date, the Ask/Bid lines start closing the difference, suggesting that there was a noticeable demand for the module. However, unlike last week’s inversion with the Ferox Navy Issue and the market becoming oversaturated as in the 250mm Railgun II’s case, this jump in market orders looks more like arbitrage flipping starting near 08 June. Notice how the as the average ask volume goes up the average bid volume decreases. With the 250MMRII, the spread is much wider than the spread in the SCBII volume chart for the same dates, suggesting that there are more outstanding production issues with the railgun.

    Recommendations

    • Stop production of 250mm Railguns II, otherwise you will have to liquidate and the price will sink further and it risks becoming a quagmire with with plenty of finished product on the market that isn’t moving because it looks like this war is petering out, at least between the Horde and Goons.
    • Hold off on any plans to produce Skirmish Command Burst II. It is looking like it could also cause problems once there is too much on the market. Given that I do think the current volume pattern suggests arbitrage trading, thus production should done with the mind that the more you put on the market the price is going to sink and drop out the arbitrage traders out, but along with your profits.
    • Pay attention to current events and changes in wars. I am seeing that industrialists are getting into the market too late and it is costing you money on profits. Reddit and Twitter are two good war front news sources because without planning correctly, you won’t reap the benefits. Yes, this war has been different and weird, but ultimately the world cannot be fully predictable and you have to be on top of it to take advantage of.

    Let me know down below what your thoughts are on this “war”? Do the Goons go after another alliance to make up for the lack of an opponient in the Pandemic Horde?

    Please remember that I will be releasing the (paid (in ISK)) report on June 20th on the entire Vulture doctrine fit. Be sure to subscribe to the blog to be one of the first to read it and my posts during the week.

    Remember to check out my Services page if you are interested in getting a trend report, production analysis, or a custom data report and contact me on my Contact Page.

    Sources

    Background Information

    Reddit

    Twitter

    Market Data and Code Framework

    Adam4Eve API

    EveRef

    Python

    • matlibplot.pyplot, pandas

    Jupyter Labs

    Anaconda Distribution