The Stainless Monthly Metals Index (MMI) rose 5.82% from January to February as the nickel price index lost upward momentum. Nickel prices returned sideways in the short term after finding a peak in January. Since the price has not bounced high enough to confirm an uptrend, downside risk may increase. Meanwhile, volume levels appear at […]
Nichole Bastin and Katie Benchina Olsen
Stainless MMI: Nickel Prices Pull Back as Downside Risk Mounts
The Stainless Monthly Metals Index (MMI) rose 14.58% from December to January as nickel prices retreated. Nickel prices continued to rally throughout December. But by January, prices began to show minor pullbacks that could become the beginning of a short-term sideways trend. Until prices break the new range, the market direction will remain unclear. Market […]
Stainless MMI: Reduced Stainless Imports Could Cause Shortages, Bullish Nickel Price
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 […]
Stainless Steel MMI: Supplier Inventories High & Nickel Starts Rally
The Stainless Monthly Metals Index (MMI) moved sideways with a modest 1.41% decline from October to November. All in all, the stainless steel price movement primarily reacted to volatility in nickel trading. Nickel held historically low volume levels over recent months, while nickel prices remained within their short-term range. By November, however, prices began to […]
