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 […]
Tag: nickel
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: 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 […]
Unlocking Efficiency: The Art of Metal Price Forecasting
Metal price forecasting is essential for businesses that buy metal, particularly when dealing with commodities like copper, steel, and aluminum. By precisely projecting future metals prices, companies may make educated judgments regarding their purchasing strategy and ensure that they acquire the metals at the most advantageous periods. Companies that understand the importance of metal price […]
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 […]
Outokumpu Expects Sideways Stainless Market, Promotes the Necessity for Protectionism
Speaking at the Chicago chapter of the Association of Women in the Metals Industry’s (AWMI) most recent dinner, Outokumpu Business Area Americas CEO and President Tamara Weinert highlighted the many challenges facing domestic stainless producers. She also commented on the global stainless steel price, the company’s overall outlook, and its path toward a greener future. […]
Stainless MMI: Mills Post Q1 Results as Nickel Prices Stabilize
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 […]
LME and CME Russian Metal Ban Prompting Speculation About Market Fragmentation
By now, anyone in the metals market will know that the U.S. and UK recently banned the consumption of Russian aluminum, copper, and nickel produced from April 13 onward. While metal already on the London Metal Exchange (LME) and the Chicago Mercantile Exchange (CME) are still available for consumption, no metal delivered after this date […]
LME’s Russian Metal Ban Shifts Global Metal Trade Dynamics
China will undoubtedly become an even more significant buyer of Russian metals following the London Metal Exchange’s ban on newly produced Russian aluminum, copper, and nickel. China has already evolved into a major market for Russian-made products following dwindling demand in the West, and these new Russian sanctions will likely only further cement that position. […]
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 […]