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This morning, Feb 22, 2021, we were not just a little surprised to read our industry news feed. Stainless steel prices are stagnant. Supposed to fall. Just a price spike?

What’s going on? Let’s take a look at the real stainless steel and commodity market.

Critical: No, stainless steel prices are not falling
Critical: No, stainless steel prices are not falling

Nickel at over $20,000 per tonne

The second look then went to nickel prices on the London Metal Exchange – over $20,000 per ton (currently back down a bit | Source: investing.com). Last week, market sources already opined to Gerber Group that they see nickel above $20,000 and on its way to $30,000 per ton.

Nickel at over $20,000 per tonne
Nickel at over $20,000 per tonne

Producers raise stainless steel prices or impose offer freezes

And then there are the other emails in the inbox. Upturns in prices everywhere in Southeast Asian countries. One global manufacturer is raising stainless steel prices by $160 per ton over the weekend. Some other Asian producers are already imposing offer freezes.

In some countries, stainless steel is no longer even available because steel producers prefer to concentrate on the domestic market.

The law of supply and demand is clear on this. If supply falls but demand remains the same or rises, then prices also rise.

The stainless steel market is clearly pointing against the news

And the news sites are spreading the word that stainless steel prices are supposed to fall. But if you look at what the market is actually saying. What the manufacturers, traders, the London Metal Exchange and the commodity market in particular are saying, then price reductions are absolutely incomprehensible. The price trend is clearly continuing upwards.

Better now quickly cover the demand for the next period.

Do you have any questions on one of our topics? Or would you like to know where stainless steel is currently still available? Just give us a call: +49 7642 9282851 or send us an email to info@steelnews.biz.

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