Tag: nickel price

Indonesia’s Nickel Dominance Spells Trouble for Global Industry

Indonesia’s Nickel Dominance Spells Trouble for Global Industry

The global nickel mining industry is under stress, and the primary reason is an oversupply of low-cost nickel from Indonesia. Moreover, this constant supply continues to support a major global surplus, placing downward pressure on the nickel price. At this point, the Southeast Asian nation has already cornered more than half of the world’s supply […]

Stainless MMI: Stainless Demand Muted, Nickel Price Falling as Market Enters Seasonal High Point

Stainless MMI: Stainless Demand Muted, Nickel Price Falling as Market Enters Seasonal High Point Raw nickel lumps

The nickel price remained within a strong downtrend throughout November, hitting its lowest point since April 2021. While prices appeared to stabilize during the first half of December, the nickel market has overwhelmingly proven itself the worst-performing base metal, with a roughly 45% year-to-date drop. Overall, the Stainless Monthly Metals Index (MMI) moved sideways, falling […]

Stainless MMI: Stainless Market Bearish, Nickel Prices Prove Worst-Performing Base Metal of 2023

Stainless MMI: Stainless Market Bearish, Nickel Prices Prove Worst-Performing Base Metal of 2023

Nickel prices remained within a strong downtrend throughout November, hitting their lowest level since April 2021. While prices appeared to stabilize during the first half of December, the nickel market has overwhelmingly proven itself the worst-performing base metal with a roughly 45% year-to-date drop. Overall, the Stainless Monthly Metals Index (MMI) remained bearish, with a […]

Stainless MMI: Stainless Market, Nickel Price Remain Bearish

Stainless MMI: Stainless Market, Nickel Price Remain Bearish steel rolls

Nickel price data continued to decline during the month, dropping a total of 4.06%. While prices remain above their pre-squeeze historical average, they recently fell to their lowest level since October 2021 as they continue to slip below short-term support. All components declined during the month, which saw the Stainless Monthly Metals Index (MMI) fall 4.56% […]

Stainless MMI: Stainless Mills Scramble for Orders as Nickel Prices Hit 2-year Low

Stainless MMI: Stainless Mills Scramble for Orders as Nickel Prices Hit 2-year Low

Nickel prices remained decidedly bearish throughout October, experiencing the largest monthly decline amongst base metals. Indeed, prices fell over 7% to their lowest level since October 2021.  Overall, the Stainless Monthly Metals Index (MMI) continued to decline, dropping 5.74% from September to October. Crush the competition by getting access to weekly exclusive nickel market intel. Opt into MetalMiner’s free […]

Stainless MMI: Stainless Inventories High, Mill Lead Times Low as Base Prices Hold Firm

Stainless MMI: Stainless Inventories High, Mill Lead Times Low as Base Prices Hold Firm british steel: steel rolls

The nickel price index continued to trend downward, as it fell to its lowest level since July 2022 by mid-September. Following an over 7% decline during August, prices fell nearly 3% during the first two weeks of September. As prices drop toward historical support zones, they come close to wiping out nearly all gains from […]

Stainless MMI: Outokumpu Looks to Expand After Q2 Drop, Nickel Prices Find Lower High

Stainless MMI: Outokumpu Looks to Expand After Q2 Drop, Nickel Prices Find Lower High Rolled steel. Stack of rolls, cold rolled steel coils in action. Galvanized steel sheet and rusted edge. Cold rolled steel coils. Drum turns sheets into production. Industrial

Although nickel prices rose more than 8% during July, prices found a peak at the beginning of August and fell to create a higher high. Indeed, prices began to retrace downward as bearish patterns became apparent in price action. While prices have yet to substantially break below monthly support or create a new lower low, […]

2022 Stainless Steel and Nickel Price Trends

2022 Stainless Steel and Nickel Price Trends Packed rolls of steel sheet, Cold rolled steel coils

Stainless and nickel price trends fluctuated much more than carbon steel throughout 2022. The LME nickel squeeze greatly strained both the nickel and stainless steel markets. Indeed, LME nickel prices skyrocketed by almost $25,000 per metric ton back in March. Soon after, the rally cooled down again, eventually bottoming out in July. Come November, prices […]

Stainless MMI: Reduced Stainless Imports Could Cause Shortages, Bullish Nickel Price

Stainless MMI: Reduced Stainless Imports Could Cause Shortages, Bullish Nickel Price Stainless-MMI-December

The Stainless Monthly Metals Index (MMI) moved up with a 7.32% rise from November to December. Meanwhile, the nickel price index appeared decidedly bullish throughout the month. While nickel prices modestly retraced from their early month rally, upside price action continued to support the short-term range breakout. Sustained increases should foster further bullish anticipation, which […]

Conditions Ripe for a Nickel Price Squeeze  

Conditions Ripe for a Nickel Price Squeeze   Screenshot-2022-11-15-at-6.55.22-PM-2

The recent rise in aluminum, copper, and nickel price have created some short-term uncertainty as companies finalize their long-term contracts for 2023. Earlier this month, all three metals rose on the back of rumors that China might begin easing zero-COVID restrictions. In addition, the USD index has dropped from its September peak of 114. As […]

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