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.
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.
- Europe: Ferrosilicon suppliers target €1,600 per tonne in the short term
- China: Stainless steel prices remain stable – trend continues upwards
- China: Steel prices rise, strong demand could favor iron ore
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Disclaimer: Many things here represent our opinion. Others are information from the Internet. We can therefore never claim to be correct or complete. And never base a business decision solely on the news you receive from us.