Industrial Insight

Stainless | January 18, 2017

Stainless MMI Down, Price Volatility Ahead

by Raul de Frutos on JANUARY 11, 2017
Style:Market AnalysisCategory:Ferrous Metals, Metal Prices, MetalMiner IndX, Premium

Our Stainless MMI fell by two points in December after a mixed performance.

MetalMiner Price Benchmarking: Current and Historical Prices for the Metals You Buy

On the one side, surcharges for 304 and 316 stainless steel rose by 34% and 25% respectively, as the chrome portion of the benchmark jumped month-on-month. The mill-announced price increase, combined with higher surcharges, marks the largest month-on-month increase seen in recent history.

On the other hand, nickel prices retraced in December on profit-taking across the industrial metals complex. Nickel prices are now at attractive levels wherein we could see investors pushing prices back up. That will depend on upcoming news that will either boost them or send prices lower. One thing is for sure: volatility is guaranteed in the weeks ahead.

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About author

I'm the executive vice president for a steel casting trade association, the Steel Founders' Society of America. I've got a crazy wife, five crazy children, three crazy people that married into the family, and two crazy fun little grandsons.

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