Tag: nickel

Experts Predict Nickel Prices Will Continue to Drop in 2024

Experts Predict Nickel Prices Will Continue to Drop in 2024

Will there be a rebound in Chinese nickel purchases in 2024? Furthermore, will it serve to bolster the market in the near term? Following a lengthy period of de-stocking last year, these are just some of the questions with implications for the global nickel price. As the world moves toward cleaner energy sources, certain minerals […]

Stainless MMI: Stainless Market Sees Pick-Up as Nickel Prices Stagnate

Stainless MMI: Stainless Market Sees Pick-Up as Nickel Prices Stagnate Raw nickel lumps. The monthly nickel price

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 […]

Indonesia’s Nickel Dominance Spells Trouble for Global Industry

Indonesia’s Nickel Dominance Spells Trouble for Global Industry

The global nickel mining industry is under stress, and the primary reason is an oversupply of low-cost nickel from Indonesia. Moreover, this constant supply continues to support a major global surplus, placing downward pressure on the nickel price. At this point, the Southeast Asian nation has already cornered more than half of the world’s supply […]

Tesla’s Steel Causes Strain…and Stain

Tesla’s Steel Causes Strain…and Stain

The world may have come to expect near-perfection from Elon Musk and his products, resulting in the slightest problem with any of them getting amplified in the media. Nonetheless, the latest U.S. steel news has not been kind to Tesla’s recently-launched and significantly delayed electric Cybertruck. The truck started shipping last December, having seen several […]

Stainless MMI: Stainless Market, Nickel Price Remain Bearish

Stainless MMI: Stainless Market, Nickel Price Remain Bearish steel rolls

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% […]

CMC Poland Opens New Rolling Mill, London Metal Exchange Explores New Nickel Contract Options

CMC Poland Opens New Rolling Mill, London Metal Exchange Explores New Nickel Contract Options

According to an official with the bourse, the London Metal Exchange (LME) is not ruling out the prospect of introducing contracts connected with Category II nickel. This comes despite the incident with the LME nickel contract back in March 2022. “We are focusing on the contract as we have it,” said Robin Martin, the bourse’s […]

Stainless MMI: Outokumpu Looks to Expand After Q2 Drop, Nickel Prices Find Lower High

Stainless MMI: Outokumpu Looks to Expand After Q2 Drop, Nickel Prices Find Lower High Rolled steel. Stack of rolls, cold rolled steel coils in action. Galvanized steel sheet and rusted edge. Cold rolled steel coils. Drum turns sheets into production. Industrial

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, […]

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. […]

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