Preference to AI Tools is Limited to Group as Per Surveys of 2024
Stainless Steel Expects Stabilization With Falling Nickel Prices
By Shubhendra Anand , 15 July, 2024
Nickel prices are facing downward momentum in the metal market in 2024. The prices for nickel in the market have grown in the past months but have fallen again. Therefore, surveys from the March 2024 metal market show mixed signals for the stainless steel market in 2024.
According to a survey conducted in 2024, the stainless steel market faces a shaking position in the metal market. It is due to the changing prices of nickel in the first half of 2024. Nickel prices have created a balance in the past months with the growing momentum of market prices. However, nickel prices fell due to a bearish outlook in the metal market. The overall situation of the metal market faced a downfall in demand throughout 2023. It is expected that the same situation will continue in 2024. The metal market faced less consumer demand due to a falling economy, other monetary tightening in various nations, and other economic problems. Experts analyzed that metal prices will fall by 5 percent in 2024; however, they will attain stability by the end of 2025.
The stainless steel market has improved prices and demand to date in 2024. However, the stainless steel market position still gives mixed signals. It shows a green signal with a particular growth in the demand graph, whereas the overall condition is weak in the market. Therefore, stainless steel is expected to get chances for growth amid falling nickel prices in the market.
Metal Index Of Stainless Steel Fell From April 2023- April 2024
Latest News
Preference to AI Tools is Limited to Group as Per Surveys of 2024
Artificial intelligence is driving all industries with cutting-edge technologies and solutions. In 2024, generative AI is transforming the markets from industrial to healthcare, technology, and others. Many reputed industrial leaders have stated that…
Europe’s Wind Power to Boom in 2024
Europe's wind power industry for the year 2024 seems to have antics of growth and probably other challenges while continuing with the shift towards the use of renewable energy. Development and investment activities like the European  Union's…
Europe on a Verge to Face Energy Crisis
Europe's gas storage levels have been depleting at a faster pace over the years. In the last eight years, European gas storage has experienced a stunt decrease. The survey reports for 2024 show that the European region is experiencing depleting…
Slow Evolving Automotive Market may Impact Green Transition
The global automotive industry faces multiple challenges in 2024. It is due to several other reasons apart from its affordability. Since the beginning of 2024, automotive trends have been evolving, shaking the balance of the automotive domain. A…
Indian Ferro Alloys Faces Numerous Challenges in 2024
Ferro alloys play a crucial role in India’s steel industry. The manufacturing and production sector relies on ferro alloys to boost the nation's heavy industries and steel production. A survey of 2024 shows that the ferro alloys market is facing…
