Nickel Prices Plummet as Stainless Steel Demand Remains Weak

Via Metal Miner Overall, the Stainless Monthly Metals Index (MMI) continued to decline, with a 4.47% drop from July to August. Nickel prices continued to plunge throughout July, shedding an additional 4.43% over the course of the month. Although prices appeared to stabilize in early August, they continued to trend near their early 2024 range, having wiped out all gains from last quarter’s speculative uptrend. Service Centers Report Slow Stainless Demand Stainless steel remains a buyer’s market. For months, stainless steel distributors…