Bearish Nickel Prices Squeeze Steel Mill Earnings

Via Metal Miner Nickel prices followed other base metals up throughout April, with a nearly 15% month-over-month rise. By late April, prices hit their highest level since September, although they subsequently began to retrace as upside momentum cooled. Overall, the Stainless Monthly Metals Index (MMI) rebounded, with a 9.58% jump from April to May. Outokumpu, Acerinox Post Q1 Results Outokumpu and Acerinox, the parent company of North American Stainless, recently released their first-quarter results. While both producers noted constrained output…