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Nickel race in China
Nickel race in China

5 September 2022 – The prices of Asian nickel contracts jumped on Monday, in some cases significantly. Italian steelmakers are demanding support from the state. And stainless steel prices in China are rising.

Nickel race in China

Nickel prices on the Chinese SHFE jumped significantly on today’s trading day. With gains of more than 5.5% in some cases. This should also have an impact on European nickel prices.

Chinese stainless steel prices rise

Not only have Asian stainless steel futures risen by 2% today, but Chinese spot prices for stainless steel are now also rising more sharply.

Italian steel producers call for support

Italian steel producers have demanded support from the government. Otherwise, they would not be able to maintain the operation of their blast furnaces due to the increased energy costs. And they would eventually have to shut them down. Already last week, the Italians had sent further increases in their energy cost surcharges into the media race.

Meanwhile, other media are also reporting on the EAF shutdowns of major European stainless steel producers.

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