Elsevier Unveils ScienceDirect AI in 2025 to Revolutionize Research Efficiency
Stainless Market Sees Downward Trend Due to Increasing Nickel Prices in 2023
By Shubhendra Anand , 30 January, 2024
Nickel performed a downward trend among the base metals throughout the year 2023. The declining rate of the nickel reflected in the performance of the stainless mills market in 2023. Throughout the month of November 2023, nickel’s performance in the market was below expectations. However, in the beginning of December 2023 the nickel market stabilized but its performance decreased throughout the year impacting the Monthly Metals Index (MMI) for the stainless mills in 2023.
According to the surveys, nickel prices fell to their highest in October 2023 showing worst market decline for the year 2023 in base metals. Since April 2021 the nickel prices declined to their lowest in the month of October 2023, that records for 7 percent in the market prices for nickel. The stainless MMI declined up to 5.74 percent from September to October in 2023, as per the reports. The reports from the World Stainless Association show a decline in the stainless steel market up to 0.9 percent in 2023. The decline impacts the stainless steel melt shop production by the end of fourth quarter in 2023. Other observations implies that indonesia performs better in the nickel market worldwide resulting in major surplus for 2023 and 2024. The market growth in indonesia for the nickel production will benefit the class 2 nickel type.
Other surveys noted that stainless steel market witness little changes throughout the year 2023 with ups and downs in the market conditions. However, the sales remain the same for all the quarters with little to no growth in the stainless market for 2023. Recent information shows that the stainless monthly metals index (MMI) fell to 6.59 percent from November to December 2023. It reflects a negative trend in the market for 2023. The growing demand in the battery industry forces more supply of raw materials, therefore, growing need of nickel production is important.
Stainless Monthly Metas Index ( MMI)
Latest News
Elsevier Unveils ScienceDirect AI in 2025 to Revolutionize Research Efficiency
In March 2025, Elsevier launched ScienceDirect AI, a world-renowned leader in science and health information science. This state-of-the-art generative AI tool can potentially transform the industry with its revolutionary advances in research. This…
EV Revolution: Battery Prices Drop Below USD 100/kWh Amid China's Dominance of the Market in 2025
The global electric vehicle (EV) industry has reached a pivotal milestone. The average price of lithium-ion battery packs has dropped below the USD 100 per kilowatt-hour (kWh) threshold, a benchmark long considered critical for achieving price parity…
China Accelerates Push for Domestic EV Chips Amid Global Trade Tensions in 2025
In 2025, China will focus on self-sufficiency in high-tech industries by further integrating domestically produced semiconductor chips into the country\'s electric vehicle (EV) industry. By doing so, China aims to reduce reliance on foreign…
General Motors Leverages AI to Revolutionize Manufacturing in 2025
GM will implement artificial intelligence (AI) in the company's facilities in 2025 to improve safety, quality, and efficiency. This appears to be another strategic initiative from GM aimed at innovation and operational improvement.
At GM, one of the…
Honda and Renesas Collaborate for Next-Gen Software-Defined Vehicles in 2025
In January 2025, Honda Motor Co., Ltd. and Renesas Electronics Corporation declared a strategic collaboration to create a high-performance system on a chip (SoC) designed for Software Defined Vehicles (SDVs). This cooperation is intended to bolster…
Shubhendra Anand
Head Research
Latest News
EV Revolution: Battery Prices Drop Below USD 100/kWh Amid China's Dominance of the Market in 2025
China Accelerates Push for Domestic EV Chips Amid Global Trade Tensions in 2025
General Motors Leverages AI to Revolutionize Manufacturing in 2025
Honda and Renesas Collaborate for Next-Gen Software-Defined Vehicles in 2025
