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 […]
Tag: Stainless Steel
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 […]
Stainless MMI: Trading halted following nickel price spike
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 […]
Stainless MMI: Nickel surged to 11-year high
The Stainless Monthly Metals Index (MMI) rose by 7.46% from January to February. Nickel prices surged to an 11-year high last month, due to plummeting LME warehouse inventories. Prices retraced in late January after a minor sell off, but managed to rebound. As prices climb toward recent highs, they may either breakout to new levels. […]
Environment driving BHP’s investments in nickel
Nickel, traditionally largely consumed in the stainless steel industry, is enjoying strong support from its role as a lithium-ion battery enhancing metal. The use of nickel reduces the need for cobalt, significantly battery reducing costs. Not surprisingly car makers are scrambling to lock up supplies as Chinese battery firms get first to market investing in […]
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 […]
This Morning in Metals: Nickel prices consolidate; NAS reduces fuel surcharge; US LNG exports surged in H1 2021
This morning in metals news: nickel prices have consolidated in December; North American Stainless announced a reduction in its fuel surcharge; and, lastly, the Energy Information Administration reported U.S. liquefied natural gas exports reached a record high in the first half of 2021. Are you under pressure to generate stainless steel cost savings? Make sure […]
India to become net exporter of steel to China; US stainless steel output forecast to rise 16%
News reports indicate India is set to become a net exporter of steel to China but will be surpassed by Indonesia as the world’s second-largest stainless steel producer. A new report by a financial credit rating company has forecast that going by current trends, India would turn net exporter of steel to China in this […]
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 […]