Tag: LME nickel

Stainless MMI: Stainless Remains a Buyer’s Market Amid Flat Global Demand Projections

Stainless MMI: Stainless Remains a Buyer’s Market Amid Flat Global Demand Projections stuff

The Stainless Monthly Metals Index (MMI) rose a modest 0.67% from April to May. Following increased volatility over the last few months, nickel prices began to slow down in terms of sharp breakouts or breakdowns. As a result, the larger sideways trend continued with no clear direction.  Does your company have a stainless buying strategy […]

Stainless MMI: Index Falls as Stainless Steel Price Appears Bearish

Stainless MMI: Index Falls as Stainless Steel Price Appears Bearish blur

The Stainless Monthly Metals Index (MMI) fell 7.53% from March to April. Downside momentum continued to pressure the nickel market, sending prices down into support zones. Meanwhile, no bullish reversal patterns have formed, leaving the global stainless steel price at high risk of further decline. Get weekly updates on nickel and stainless steel price trends […]

LME Nickel Purchasers Express Concerns Over Alleged Nickel Scandal

LME Nickel Purchasers Express Concerns Over Alleged Nickel Scandal nickel-ingots-background-3d-rendering

The London Metal Exchange is back in the limelight again, along with its notorious nickel contract. This time, the news has to do with reports of potential fraud with a recent LME nickel shipment. The scrutiny comes following the discovery of nine warrants, some 54 tons of Nickel briquettes, that turned out to contain rocks. […]

Is the LME’s Role as the Go-to-Price Point for Nickel Over?

Is the LME’s Role as the Go-to-Price Point for Nickel Over? AdobeStock_500867385_Editorial_Use_Only.jpeg

Doomsters have predicted the end of the LME before. Still, after 146 years and counting, the LME is still with us and the go-to nickel price point. However, volumes have tanked since the LME nickel debacle in March of 2022. In fact, the problems no longer relate just to nickel, but the entire non-ferrous metals […]

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 […]

Nickel Market Volatility Leaves Buyers Confused

Nickel Market Volatility Leaves Buyers Confused Nickel. Element 28 of the periodic table of chemical elements.

November marked a rocky roller coaster for many metal prices, and the nickel price index was no exception. After the sharp rally at the beginning of the month, nickel prices eventually bounced back down. At the time, MetalMiner noted that the rally would prove short-term at best and didn’t indicate a true reversal. The LME’s […]

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 […]

Stainless Steel MMI: Supplier Inventories High & Nickel Starts Rally

Stainless Steel MMI: Supplier Inventories High & Nickel Starts Rally Stainless-MMI-November-1

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 […]

LME Puts a Stop on Russian and Belarusian Nickel Warehousing

LME Puts a Stop on Russian and Belarusian Nickel Warehousing AdobeStock_509368108_Preview

The London Metal Exchange (LME) just introduced a ban on nickel with Russian and Belarusian origins. This adds to the long list of Russian sanctions currently imposed by the UK and other NATO nations. The ban will take effect immediately in approved warehouses located within the United Kingdom. This comes not long after the UK […]

Stainless MMI: Nickel Prices Fall to a 6-Month Low

The Stainless MMI continues its decline this month. Moreover, nickel prices continue to show weakness without any apparent bullish anticipation from market participants. As the entire industrial metals market sloped downward, nickel prices followed suit. Moreover, volumes remain lower than pre-LME shutdown levels, which will continue to foster slow price movement. The Stainless Monthly Metals […]

Scroll to Top