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 […]
Tag: Stainless Steel
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
