Via AG Metal Miner The Stainless Monthly Metals Index (MMI) fell 7.53% from March to April. Downside momentum continued to pressure the nickel market, sending prices down into support zones. Meanwhile, no bullish reversal patterns have formed, leaving the global stainless steel price at high risk of further decline.
Nickel Market Shifted into Surplus, While Inventories Declined According to the International Nickel Study Group (INSG), the nickel market shifted from deficit to surplus in 2022, and thus the stainless steel price index…Nickel Surplus Weighs On Stainless Steel Prices
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