22 April 2025 – Nickel prices on the LME and SHFE have shown a clear upward trend since 9 April – the stainless steel and battery raw material has performed exceptionally well on one commodity exchange in particular. Taiwan: Are stainless steel mills pushing for a new anti-dumping investigation?
Nickel prices stable after significant increase
After bottoming out on 9 April, three-month nickel prices on the LME commodity exchange showed a considerable upward trend and closed last Thursday, 17 April 2025, at USD 15.615/MT (+11.3% compared to 9 April). After the Easter holidays, LME nickel prices are moving sideways in morning trading today.
SHFE nickel prices also improved and were up approx. 5.6% on Friday compared to 9 April.
Indonesian nickel ore prices continue to rise
Indonesian nickel ore prices took another leap upwards last Friday. Depending on the nickel content, prices rose by between 3.5% and 5.6%. The nickel premiums there also remained stable or rose again.
Taiwan: Are stainless steel mills pushing for a new anti-dumping investigation?
According to Taiwanese media reports, an anti-dumping procedure against cold-rolled stainless steel from Vietnam could be in the making. In 2024, a single Vietnamese stainless steel re-roller increased its exports of cold-rolled stainless steel to Taiwan tenfold and undercut the average market price in the process. Stainless steel producers in Taiwan were concerned about this behaviour and are currently considering a possible anti-dumping complaint.
It is astonishing that the Vietnamese re-roller, which has already twice been the cause of the initiation of trade defence measures, clearly does not want to learn from past proceedings and keeps doing the same thing over and over again, expecting different results.
From our point of view, it remains to be seen when the US authorities or the stainless steel mills there will become aware of this and articulate a desire for a possible trade defence investigation.
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