Industrial Insight

Stainless prices | April 16, 2014

Stainless steel prices boosted rising nickel

09 April 2014

Late last year, MEPS predicted that there would be an upturn in demand for stainless steel, however this has not yet materialized during the first quarter of 2014. However, recent increases in nickel costs have lifted stainless transaction values and helped boost stainless purchases.

The mineral ore export ban imposed by Indonesia has had a small effect since the beginning of 2014, but other conventional nickel producers have stepped up their outputs in an effort to help reduce the shortfall. Nickel continues to be in surplus relative to current demand. The LME Nickel Cash price rose by US$2000 per ton between Feb. 25 and Mar. 26, which was an increase of over 14 percent. As a result, austenitic stainless steel transaction values have advanced and likely to continue doing so. Market insiders are reporting positive signs saying that consumption is sure to increase (either because of seasonal trends or because of genuine economic recovery).

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About author

I'm the executive vice president for a steel casting trade association, the Steel Founders' Society of America. I've got a crazy wife, five crazy children, three crazy people that married into the family, and two crazy fun little grandsons.







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