Stainless Steel Market Sees Mixed Signals Amid Falling Nickel Prices

Via Metal Miner Nickel prices continued to the upside during the first half of March, taking a momentary pause from their long-term downtrend. However, prices found a peak by March 13, reaching their highest level since October 2023. Following that, the rally collapsed, and prices returned to the downside. Overall, nickel prices fell 5.56% month over month. The Stainless Monthly Metals Index MMI fell 3.16% from March to April.

Source MetalMiner Insights, Chart & Correlation Analysis Tool Although they do not offer a meaningful correlation to prices, LME inventories continued to balloon throughout March and now sit at their highest level since May 2022. This trend directly opposes markets like copper, which continue to witness inventory drawdowns ahead of an increasingly tight supply outlook.

Switzerland Neuesten Nachrichten, Switzerland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Global Manufacturing Resurgence Set to Reshape Steel MarketThe potential boom in manufacturing activities across key global markets could significantly impact steel demand and prices, influenced by the revitalization of the automotive and construction sectors.
Herkunft: OilandEnergy - 🏆 34. / 68 Weiterlesen »

China's Iron and Steel Association Calls for Production Cut to Stabilize MarketIron ore prices experienced significant volatility in the second quarter of 2024, driven by concerns about weaker demand from China's real estate sector and a slowdown in infrastructure development.
Herkunft: OilandEnergy - 🏆 34. / 68 Weiterlesen »

Orange Pip Market, Middlesbrough: Council turns to businesses to help secure future of much-loved marketWays of securing the future of a much-loved event are being explored by the local council, including sponsorship from local businesses.
Herkunft: The Yorkshire Post - 🏆 39. / 66 Weiterlesen »

10 incredible pictures of Barras as Hong Kong street marketGlasgow's iconic Barras market was transformed into a Hong Kong street market this weekend.
Herkunft: Glasgow_Times - 🏆 76. / 59 Weiterlesen »

Barras transformed into Hong Kong street market THIS weekendGlasgow's Barras Market will transform into a Hong Kong-style street market THIS weekend.
Herkunft: Glasgow_Times - 🏆 76. / 59 Weiterlesen »