The Stainless Monthly Metals Index (MMI) moved sideways, rising by a modest 0.35% from May to June. However, the stainless steel price remains under pressure from several factors. Tariff Hike Rattles the U.S. Stainless Steel Market In a move few saw coming, President Trump doubled Section 232 tariffs on steel and aluminum imports from 25% […]
Category: Stainless Steel
Stainless MMI: Stainless Prices Stable Despite Q1 Market Improvements
Declining nickel prices saw the Stainless Monthly Metals Index (MMI) drop from April to May. Overall, the index fell 3.34%. Suppliers Report Better Q1 Performance Domestic stainless suppliers reported improved market conditions in the first quarter. Both mills and service centers saw shipments increase as the barrage of tariff announcements spooked at least a few […]
Global Precious Metals MMI: “Yellow Metal” Come Out Once Again as Hedging Safe Haven Amidst Tariffs
The Global Precious Metals MMI (Monthly Metals Index) saw a significant bullish action month-over-month, rising by a total of 8%. The U.S. precious metals market (and precious metals prices in general) saw dramatic swings over the past five weeks amid a backdrop of stubborn inflation, evolving interest rate expectations, new tariffs and geopolitical tensions. All […]
Stainless MMI: Stainless Market Extends Slump as Reciprocal Tariffs Spare Steel
The Stainless Monthly Metals Index (MMI) remained sideways, with an upside bias. Meanwhile, nickel prices dropped to lows last seen in 2020. Overall, the index rose by 2.16% from March to April. Buyers Hold Back from Stainless Market The U.S. stainless steel market remains lackluster. While March witnessed a modest increase in shipments, some suppliers […]
Historical Price Trends for Industrial Metals Over the Past Decade
Over the last ten years, industrial metal prices have gone on a wild ride, rising, falling and rising again, thanks to everything from global economic swings to supply chain hiccups and geopolitical drama. If you’re in manufacturing, investing, or policy, keeping tabs on these price trends isn’t just helpful, it’s essential. Steel Historical Price Trends […]
Stainless MMI: Outokumpu Cuts Discounts, Nickel Prices Rise
The Stainless Monthly Metals Index (MMI) remained sideways, supported by modest increases among most of its components. The index rose by a modest 0.56% from February to March. Meanwhile, nickel prices continued their uptrend. Outokumpu Reduces Stainless Steel Discounts Outokumpu closed out February announcing reductions to a number of stainless steel discounts. Beginning March 1, […]
Anglo American Offloads Nickel Business for $500M, Here’s Why It Matters
Mining multinational Anglo American recently agreed to sell its nickel business to a subsidiary of MMG Resources, which has its main offices in Beijing and Melbourne, for up to $500 million. The move left many industry insiders speculating how it might relate to current nickel prices and how it might affect them. On February 18, […]
Stainless MMI: Stainless Market Remains Slow Despite Tariffs
The Stainless Monthly Metals Index (MMI) remained sideways, but continued to slide. Overall, the index fell by 0.72% from January to February as nickel prices remained consolidated. Bearish Conditions Continue to Haunt 304 Stainless The chaos of tariffs was seemingly lost on large portions of the stainless steel market. For many, the return of a […]
Stainless MMI: Indonesia Looks to Support Nickel Prices
The Stainless Monthly Metals Index (MMI) remained sideways, retreating by a modest 2.64% from December to January. All of the index’s components trended lower, weighed down by bearish nickel prices throughout the month. Indonesia to Address Nickel Supply Glut Indonesia is currently eyeing substantial output cuts after nickel prices descended beneath the $15k/mt mark. High […]
Nickel Nightmare: Is Indonesia’s Dominance Hurting Global Markets?
When the story of global nickel prices is written for 2024, Indonesia and China will undoubtedly be the main characters. This is not only due to the former country’s high production output but also alleged violations of environmental rules and poor labor practices, which Indonesia has consistently denied. Indonesia is numero uno in global nickel […]
