21 April 2022 – Import prices for flat-rolled stainless steel rose about 8% in Taiwan in March 2022. Nickel market is in deficit. LME nickel stocks down more than 72%.
Taiwan: Stainless steel prices up in March 2022
According to statistical data from Taiwan’s Bureau of Trade, imports of flat-rolled stainless steel fell 20% in March 2022 from the previous month. At the same time, prices of flat-rolled stainless steel products per tonne have increased by an average of about 8% over the same period.
Nickel market in deficit
According to a report by the World Bureau of Metal Statistics (WBMS), the nickel market was in deficit during January-February 2022, as apparent demand exceeded production by 17,400 MT. For the whole of 2021, the calculated deficit for nickel was 146,900 MT.
Reported stocks on the LME (including non-warrant stocks) at the end of February 2022 were 22,000 MT lower than at the end of the previous year. Refined production was 447,600 MT and demand 464,900 MT from January to February 2022.
Global apparent demand was 63,000 MT higher year-on-year in January-February 2022.
LME nickel stocks continue to fall
LME nickel inventories fell a further 10% in March 2022 from the previous month. This should continue to keep the nickel price at a high level. Compared to the same period last year, nickel inventories on the LME have fallen by over 72% and the price of nickel has more than doubled.
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