The Stainless Steel Monthly Metals Index (MMI) skyrocketed this month, increasing by seven points. The current reading stands at 84.
Nickel price momentum seems to have recovered again.
LME nickel prices increased at a quicker pace in May. The increases continued through the beginning of June, driving prices to 2014 highs.In addition, a fundamental tightness in the nickel market has added support to the latest nickel price increases.
Chinese 304 stainless steel coil prices increased again this month by 2.02%, while Chinese 316 stainless steel coil prices rose further by 6.61%.
