Nickel prices followed other base metals up throughout April, with a nearly 15% month-over-month rise. By late April, prices hit their highest level since September, although they subsequently began to retrace as upside momentum cooled. Overall, the Stainless Monthly Metals Index (MMI) rebounded, with a 9.58% jump from April to May. Outokumpu, Acerinox Post Q1 […]
Tag: nickel prices
Stainless MMI: Nickel Prices Retrace Amid Slow Stainless Market
Nickel prices continued to the upside during the first half of March, taking a momentary pause from their long-term downtrend. However, prices found a peak by March 13, reaching their highest level since October 2023. Following that, the rally collapsed, and prices returned to the downside. Overall, nickel prices fell 5.56% month over month. The […]
Stainless MMI: Stainless Market Sees Pick-Up as Nickel Prices Stagnate
Nickel prices inverted to the upside in February, with an 8.71% month-over-month rise. Following a 3.53% increase during the first weeks of March, prices appeared to stagnate after they found at least a short-term peak on March 13. Overall, the Stainless Monthly Metals Index (MMI) remained sideways, with a modest 1.95% rise from February to […]
Stainless MMI: Stainless Steel Prices, a Bearish Market, Outokumpu Expects Quarterly Improvement
The downtrend for nickel prices showed signs of exhaustion, with significant potential to impact stainless steel prices. Nickel moved sideways throughout January with a modest 1.60% decline. While directional momentum remained slow, prices continued to edge lower during the first weeks of February and now sit at their lowest level since April 2021. Overall, the […]
Stainless MMI: Stainless Demand Muted, Nickel Price Falling as Market Enters Seasonal High Point
The nickel price remained within a strong downtrend throughout November, hitting its lowest point since April 2021. While prices appeared to stabilize during the first half of December, the nickel market has overwhelmingly proven itself the worst-performing base metal, with a roughly 45% year-to-date drop. Overall, the Stainless Monthly Metals Index (MMI) moved sideways, falling […]
Stainless MMI: Stainless Market Bearish, Nickel Prices Prove Worst-Performing Base Metal of 2023
Nickel prices remained within a strong downtrend throughout November, hitting their lowest level since April 2021. While prices appeared to stabilize during the first half of December, the nickel market has overwhelmingly proven itself the worst-performing base metal with a roughly 45% year-to-date drop. Overall, the Stainless Monthly Metals Index (MMI) remained bearish, with a […]
Stainless MMI: Stainless Market, Nickel Price Remain Bearish
Nickel price data continued to decline during the month, dropping a total of 4.06%. While prices remain above their pre-squeeze historical average, they recently fell to their lowest level since October 2021 as they continue to slip below short-term support. All components declined during the month, which saw the Stainless Monthly Metals Index (MMI) fall 4.56% […]
Stainless MMI: Stainless Mills Scramble for Orders as Nickel Prices Hit 2-year Low
Nickel prices remained decidedly bearish throughout October, experiencing the largest monthly decline amongst base metals. Indeed, prices fell over 7% to their lowest level since October 2021. Overall, the Stainless Monthly Metals Index (MMI) continued to decline, dropping 5.74% from September to October. Crush the competition by getting access to weekly exclusive nickel market intel. Opt into MetalMiner’s free […]
Vietnamese automaker VinFast to build EV manufacturing center in North Carolina
As we continue to analyze current market factors and their impacts on nickel prices, copper prices and other key metal prices for automotive production, today we’ll focus on an announced addition to the domestic automotive manufacturing scene. A new automotive player will be coming to the U.S. soon, as Vietnamese automaker VinFast this week announced […]
This Morning in Metals: GM to invest $51M in Indiana aluminum die casting foundry
This morning in metals news: General Motors will invest $51 million to install equipment at its Bedford, Indiana aluminum casting die foundry; nickel prices have gained this past month; and, lastly, the U.K. trade minister reportedly told the U.S. they could consider expanding tariffs on U.S. goods if the U.S. does not remove the Section […]