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, […]
Tag: nickel price
2022 Stainless Steel and Nickel Price Trends
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
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
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 […]
Vladimir Potanin Sanctioned by the UK and Nickel Price Impact
The UK government has added Vladimir Potanin, Norilsk Nickel’s president and chairman of the management board, to its list of sanctioned individuals. The LME nickel price remains in question. A June 29 update notification from HM Treasury’s Office of Financial Sanctions Implementation (OFSI) noted Potanin’s addition. The stated reason was that he would benefit from […]
Stainless MMI: Nickel Prices Fall and Start Consolidating
Nickel prices appeared to hit a bottom in mid-May, but the trend remains down. Moreover, recent price action showed few signs of any bullish structures on a weekly scale. All in all, the Stainless Monthly Metals Index (MMI) dropped 9.4% from May to June. LME Faces Nearly $500 Million in Lawsuits The nickel crisis returned […]
Is the Battery Metals Gold Rush Really Over?
The term battery metals typically refers to lithium, nickel, and cobalt. The name stems from the fact that the three metals are frequently used in the production of all types of modern batteries. Since 2021, these metals have enjoyed a rather lengthy bull run. This has proved profitable for investors and provided some much-needed predictability […]
Nickel Prices: LME Nickel Contract Continues to Lack Liquidity, Harming Price Discovery
Nickel prices are seeing a lot of attention due to an overall lack of liquidity on the LME contract. But what exactly does this mean? Moreover, what does it mean for buyers looking to mitigate price problems in the face of global supply problems? The metals market moves fast. Sign up for the weekly MetalMiner […]
MetalMiner Q&A: LME nickel turmoil, volume volatility and what’s next for the exchanges
The MetalMiner team has broken down the significant fluctuations in the LME nickel contract this month. But now that a few weeks have passed since the LME first suspended trading, it’s time to take a look at some other interesting trends at play on the LME and elsewhere. In this question-and-answer session, MetalMiner’s Stuart Burns […]
LME nickel hits the buffers again
You must wonder what would have happened if the LME had left the nickel market alone — after nickel prices embarked on a meteoric rise March 7 — and allowed the short covering price spike to work out. Yes, the shorts would have been badly burned. That would have included not just Tsingshan Holding Group […]
