Stainless and nickel price trends fluctuated much more than carbon steel throughout 2022. The LME nickel squeeze greatly strained both the nickel and stainless steel markets. Indeed, LME nickel prices skyrocketed by almost $25,000 per metric ton back in March. Soon after, the rally cooled down again, eventually bottoming out in July. Come November, prices […]
Tag: Stainless Steel
Stainless MMI: Reduced Stainless Imports Could Cause Shortages, Bullish Nickel Price
The Stainless Monthly Metals Index (MMI) moved up with a 7.32% rise from November to December. Meanwhile, the nickel price index appeared decidedly bullish throughout the month. While nickel prices modestly retraced from their early month rally, upside price action continued to support the short-term range breakout. Sustained increases should foster further bullish anticipation, which […]
Mastering Metal Prices: 5 Sourcing Strategies That Only Pros Know
“It is a fact researchers have settled on – the 10,000-hour rule is a definite key in success.”– Malcolm Gladwell, ‘Outliers.’ For those of you who have not read Gladwell’s “Outliers,” no worries. Essentially, the key theme of the book involves the concept of practice. It states that those who dedicate 10,000 hours or more […]
Stainless Steel MMI: Supplier Inventories High & Nickel Starts Rally
The Stainless Monthly Metals Index (MMI) moved sideways with a modest 1.41% decline from October to November. All in all, the stainless steel price movement primarily reacted to volatility in nickel trading. Nickel held historically low volume levels over recent months, while nickel prices remained within their short-term range. By November, however, prices began to […]
Stainless Steel in a “Commodity Standoff”
Stainless steel prices continue to struggle as we approach the final quarter of the year. Meanwhile, nickel prices float just above their 2021 average, closing August at $21,320 / mt. Both indices seem to indicate an overly-cautious marketplace, with buyers and sellers seemingly waiting to see what the other will do. This sort of “commodity” […]
Estimating Stainless Steel Costs Becoming More Complicated
Last Month, MetalMiner reported that stainless steel cost had been holding strong amid high demand and increased production. However, we did identify some cracks in what might otherwise look like a solid recovery. As we transition from Q2 to Q3, some of those cracks have grown significantly. Low Demand in China Affecting Stainless Steel Cost […]
Stainless MMI: Nickel Prices Fall and Start Consolidating
Nickel prices appeared to hit a bottom in mid-May, but the trend remains down. Moreover, recent price action showed few signs of any bullish structures on a weekly scale. All in all, the Stainless Monthly Metals Index (MMI) dropped 9.4% from May to June. LME Faces Nearly $500 Million in Lawsuits The nickel crisis returned […]
Nickel Prices: LME Nickel Contract Continues to Lack Liquidity, Harming Price Discovery
Nickel prices are seeing a lot of attention due to an overall lack of liquidity on the LME contract. But what exactly does this mean? Moreover, what does it mean for buyers looking to mitigate price problems in the face of global supply problems? The metals market moves fast. Sign up for the weekly MetalMiner […]
Stainless Steel MMI: Stainless Prices Holding Strong
The Stainless Steel MMI indicates that prices are holding fast. This, as cold-rolled stainless imports to the U.S. have averaged above 40,000 MT per month for several straight months. Meanwhile, U.S. flat-rolled stainless producers have run at full capacity for over a year now. Still, they continue to place premiums on products they simply don’t […]
Stainless MMI: Nickel prices trade down but remain elevated amid lower LME volumes
The Stainless Monthly Metals Index (MMI) jumped by 25.07% from March to April, as nickel prices remained elevated. Nickel prices continue to trade slightly downward. However, nickel prices remain elevated from pre-invasion levels. Volume flow fluctuated among exchanges in recent days due to distrust of the LME, while nickel prices began to trade within an […]
