6 February 2025 – Nickel prices on the Asian commodity exchange SHFE rose significantly today, Thursday. Nickel is also on the rise on the LME. Asian and European stainless steel producers announce price increases.
Nickel prices in Asia jump upwards
Nickel prices on the Asian commodity exchange SHFE rose significantly on Thursday. The currently most important nickel contract SHFE.NI2503 increased in price by almost 3.4%. However, the Chinese spot market price for nickel also rose by more than 1.5%.
The main reason for these price increases is likely to be the announced reduction in mining quotas for Indonesian nickel ore in 2025 and 2026. However, possible new export restrictions for nickel products from Indonesia may also have had an influence here.
LME nickel prices are also rising
The 3-month nickel on the LME has already improved by up to 1.7% in today’s trading, having already risen by almost 1.9% yesterday.
Asian and European stainless steel prices expected to rise
The major Taiwanese stainless steel producers have announced price increases for February, particularly for the 300 series. However, spot market prices for stainless steel have also risen in China following the increase in nickel prices today. According to reports from the market, European stainless steel producers are also aiming for price increases.
Stainless steel futures on the SHFE also rose by around 0.7% in today’s trading.
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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.
