According to a Forbes report, the nickel business has become so lucrative that billionaire Kiki Barki, who built his fortune in coal mining, is now steering his Harum Energy toward nickel. Harum accelerated its nickel expansion this year through a series of strategic deals. Meanwhile, nickel prices ended 2024 below their 2023 close. Harum Makes […]
Tag: nickel prices
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 […]
Stainless MMI: Stainless Bearish as Nickel Prices Sit Below 2023 Close
Overall, the Stainless Monthly Metals Index (MMI) steadied, with a modest 0.3% increase from November to December. Stainless, Nickel Prices to Depart 2024 on a Low Note Stainless distributors had nothing good to say about 2024 on the heels of the new year. To many, 2024 was mostly characterized by soft demand conditions and an […]
Stainless MMI: Falling Stainless Prices Drag Suppliers
Overall, the Stainless Monthly Metals Index (MMI) accelerated declines from the previous month, with a 3.45% drop from October to November. Following a slight increase during September, nickel prices returned bearish. Prices fell 8.72% throughout October before they found a bottom at the close of the month, making them the worst-performing base metal. Crush your […]
Nickel Prices Surge Past $18K: Is a Stainless Steel Rebound Finally on the Horizon?
Of late, nickel prices have been on the rise. More recently, nickel hit a new three-month high on the London Metal Exchange (LME), surging past US $18,000 per metric ton. The price of this material, which is crucial for making stainless steel, has been under pressure for months. Now, it seems to be showing strong […]
Stainless MMI: Stainless Mills Struggle With Oversupply
Overall, the Stainless Monthly Metals Index (MMI) fell 0.75% from September to October. Nickel prices moved sideways with a slight upside bias throughout September. In total, prices rose 1.64% month over month, which offered support to the 304 stainless surcharge. Stainless Entered the Month Heavily Oversupplied The stainless market opened Q4 with little optimism. Reports […]
Stainless MMI: Steep Stainless Discounts as Nickel Price Rally Collapses
Overall, the Stainless Monthly Metals Index (MMI) posted slight growth, with a 3.54% rise from August to September. Nickel prices rallied throughout August, halting months of steep declines. All in all, prices rose 3.18% during the month as they found a peak on August 30. However, the rebound proved short-lived. The price of nickel collapsed […]
Stainless MMI: Nickel Prices Unravel Gains as Stainless Market Remains “Soft”
Overall, the Stainless Monthly Metals Index (MMI) continued to decline, with a 4.47% drop from July to August. Nickel prices continued to plunge throughout July, shedding an additional 4.43% over the course of the month. Although prices appeared to stabilize in early August, they continued to trend near their early 2024 range, having wiped out […]
Stainless MMI: Bearish Stainless Demand Leads to Steep Discounts
Overall, the Stainless Monthly Metals Index (MMI) reversed to the downside, with a 10.88% drop from June to July. Nickel prices experienced heavy losses during June, securing the title of worst-performing base metal with an over 14% decline. Prices had fallen over 19% from their May 20 peak by early June as they remained in […]
Stainless MMI: Stainless Demand Slow, NAS Determines New Ferrochrome Pricing
Overall, the Stainless Monthly Metals Index (MMI) rose 3.89% from May to June. The nickel price mirrored other base metals, finding a peak on May 20 before inverting to the downside. By the close of June 20, nickel prices had fallen over 19%, returning to their lowest level since early April. That said, they remain […]