SHFE nickel futures up again
SHFE nickel futures up again

12 January 2024 – Rising nickel prices and a stable development in stainless steel in Asia have filled manufacturers’ order books well. Market sources also report a significant increase in demand from the United States and Europe.

SHFE nickel futures up again

Nickel futures on the SHFE rose again today, Friday. Some of the currently most important nickel contracts rose by more than 2%.

LME Nickel with sideways movement

The prices for the stainless and battery raw material on the LME has moved sideways in a slightly volatile manner this week, but with the EAF scrap quotas of the EU mills at over 90%, it no longer has the greatest influence on European stainless steel prices.

Stainless steel prices stable and rising

Overall, stainless steel prices were stable in the first few weeks of January. Some Asian manufacturers are already reporting well-filled order books and are showing little willingness to negotiate prices overall. Demand in the United States and Europe is also continuing to rise.

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