Cold Rolled Stainless Imports Surge Despite Higher Freight Rates

Via Metal Miner Overall, the Stainless Monthly Metals Index (MMI) reversed to the downside, with a 10.88% drop from June to July. Nickel prices experienced heavy losses during June, securing the title of worst-performing base metal with an over 14% decline. Prices had fallen over 19% from their May 20 peak by early June as they remained in search of a new bottom. Bearish Conditions Lead to Steep Stainless Discounts Bearish conditions continued to reverberate through the stainless steel sector throughout June. Distributors and brokers reported an…