Stainless Steel and Nickel Break Support, Changes in Demand Needed for Recovery

by on

Nickel has fallen to a 6-year low on the London Metal Exchange, as prices have broken a key support level.
Free Download: Cut Your Copper Shipment Costs

The monthly Stainless MMI® registered a value of 72 in April, a decrease of 7.7% from 78 in March. Stainless steel prices are falling along with their key alloying metal.

Those traders that supported the metal price from declining further have now changed their minds. This simply means that the market sentiment has changed. Selling pressure has overcome buying power and, without making any predictions, nickel is now more vulnerable to further declines.

Two factors helped to change the market sentiment:

For full access to this MetalMiner membership content:
Log In |

{Comments Off on Stainless Steel and Nickel Break Support, Changes in Demand Needed for Recovery Comments Off on Stainless Steel and Nickel Break Support, Changes in Demand Needed for Recovery}