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ATI strike continues into seventh week as sides diverge on profit sharing

The Stainless Monthly Metals Index (MMI) increased by 7.0% for this month’s reading, as the ATI strike entered its seventh week this week. ATI strike continues In late March, the United Steelworkers union announced a strike at nine Allegheny Technologies Inc. (ATI) facilities. The union cited “unfair labor practices” in its announcement of the strike. Over six weeks later, the labor stoppage has yet to reach a conclusion. Meanwhile, late last month, ATI reported its first-quarter financial results. The firm reported a net loss of $7.9 million for the quarter, compared with a net loss of $1.1 billion in Q4 2020. In Q1 2020, the firm reported net income of $23.6 million.

Tsingshan supply deal news sends nickel price falling

The Stainless Monthly Metals Index (MMI) rose by 4.3% for this month’s reading, as news of a supply deal by China’s Tsingshan Holding Group helped push the nickel price downward. Sick of not finding good price indexes for stainless steel? Check out the MetalMiner stainless steel should-cost model detailed price-per-pound info for grade, form, alloy, gauge, width, cut to length adders, polish and finish adders. Nickel price falls on Tsingshan supply deal news The nickel price, like most other base metals, surged through the first two-thirds of February. The LME nickel price reached as high as $19,722 per metric ton as of Feb. 21.

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