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Nickel is currently listed, March 31, 2021, 8:13 (GMT+1) on the LME at around $15,975 per ton. But with no effect on stainless steel prices.

This means that it has fallen below $16,000 per tonne from yesterday to today, and it has also fallen by almost 2.5% on the Shanghai Future Exchange.

Nickel slightly down: Stainless steel prices unimpressed
Nickel slightly down: Stainless steel prices unimpressed

Cause probably close of the month in trading

At the moment, the media is still looking for a possible cause for this. Our current guess is the usual corrections at the end of the month.

SHFE: Stainless steel prices stable to bullish

The stainless steel futures on the SHFE show themselves unimpressed by the nickel development. The mood is still stable to bullish.

Prices determined by demand

The stainless steel price is currently driven by high demand and the prevailing shortage.

Source: gerber-steel.com

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