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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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.
