Have Nickel Prices Hit A Bottom? ...Middle East

The Stainless Monthly Metals Index (MMI) dropped 8.87% from June to July. After nickel prices hit a bottom mid-July, they followed the base metal trend upward. By the beginning of August, however, the rebound had faltered, and prices resumed their descent. Both last month’s increases and this month’s declines were extremely narrow. For that reason, prices appear consolidated within their current range, leaving no clear direction for the coming month. Indonesia Plans New Export Taxes Indonesia continues to pursue value adds to its nickel…

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