The Stainless Monthly Metals Index (MMI) rose by 7.6% from February to March, as the skyrocketing nickel price prompted LME intervention Tuesday. LME suspends trading due to short squeeze Russia accounts for roughly 7% of global nickel supply. So, the possibility for supply disruptions, on the back of mounting sanctions from the West, adds pressure […]
Tag: Stainless MMI
Stainless MMI: Tariff exclusion could lead to more capacity
The Stainless Monthly Metals Index (MMI) rose by 1.8% month over month. Although nickel edged up slowly in price, it squeezed into a wedge that is susceptible to big time frame resistance. Prices continue to consolidate within an October-November 2021 high-low price range. A continuation to the upside with more volume from the bulls could […]
Stainless MMI: Stainless steel market tight, nickel shows volatility
The Stainless Monthly Metals Index (MMI) held flat this month, while the stainless steel market is tight. Nickel prices appear to have consolidated following the late November spike. As with other base metals, nickel has started to show a high degree of volatility and uncertainty that would suggest a breakout of the current trading range […]
Stainless MMI: Stainless prices beneath peak but remain bullish
The Stainless Monthly Metals Index (MMI) rose by 3.8% month over month. Nickel continues to be within an overall uptrend. However, LME prices experienced significant volatility throughout October. Prices dropped as low as $17,810/mt in the early days of the month before they spiked to $20,475/mt by Oct. 21. Prices have since retraced and appear […]
Stainless MMI: Index declines for first time in five months
The Stainless Monthly Metals Index (MMI) fell by 1.9% for this month’s reading. Do you know the five best practices of sourcing metals, including stainless steel? Base price and surcharge increases North American Stainless (NAS) increased 304, 304L and 316L effective Oct. 1 by reducing the discount by two points. For 304, this is an […]
Stainless MMI: Stainless producers announce base price hikes
The Stainless Monthly Metals Index (MMI) remained flat for this month’s reading. Are you under pressure to generate stainless steel cost savings? Make sure you are following these five best practices. Base price and surcharge increase Both NAS and Outokumpu announced price increases effective Sept. 1. Outokumpu increased base prices by reducing the discount by […]
Stainless MMI: Strong stainless demand to continue into 2022
The Stainless Monthly Metals Index (MMI) increased by 8.2% for this month’s reading. Stop obsessing about the actual forecasted nickel price — it’s more important to spot the trend. Outokumpu demand outlook Stainless steel producer Outokumpu released its half-year report, reporting that their sales increased by 16.8% for the first half of 2021 compared to […]
Stainless MMI: ATI, USW reach tentative agreement to end strike
The Stainless Monthly Metals Index (MMI) increased by 2.1% for this month’s reading. Are rising surcharges causing concern? Make sure your base prices are held fixed. See how service centers negotiate with you. Nickel pig iron replacement As steel prices continue to rally, stainless steel producers in China seem to be saving costs by replacing […]
Stainless MMI: Stainless steel demand expected to keep increasing
The Stainless Monthly Metals Index (MMI) increased by 4.3% for this month’s reading, as stainless steel demand is likely to continue to grow in the years ahead. Do you know the five best practices of sourcing metals, including stainless steel? Increasing stainless steel production, demand According to International Stainless Steel Forum (ISSF) data, stainless steel […]
Stainless MMI: ATI strike continues into seventh week
The Stainless Monthly Metals Index (MMI) increased by 7.0% for this month’s reading, as the ATI strike entered its seventh week this week. Do you know the five best practices of sourcing metals, including stainless steel? ATI strike continues In late March, the United Steelworkers union announced a strike at nine Allegheny Technologies Inc. (ATI) facilities. […]
