September 25, 2021

Solid stainless production drives nickel price

From a bear narrative of oversupply in the first half of this year, the nickel market has swung dramatically to a bull story of rampant demand. That demand, however, is from solid stainless steel consumption, not from last year’s expectation of battery demand. China is largely driving the nickel price. A technical squeeze on the […]

September 23, 2021 Source

Shanghai stainless steel futures hit record hig...

Chinese stainless steel futures scaled their daily trading limit on Thursday to hit an all-time high, as market watchers were concerned by ongoing supply constraints of the metal while downstream demand remains resilient. The most active stainless steel contract on the Shanghai Futures Exchange, for October delivery, surged 7% to 20,680 yuan ($3,214.87) per tonne. […]

August 21, 2021 Source

Global stainless steel production to grow to 54...

With the effect of Covid-19 pandemic gradually waving away from markets, demand is expected to reach pre-pandemic times. The global stainless steel market production is expected to grow to 54 million tons in 2021 with an improvement in economic activity and stainless steelmaking capacity in parallel, especially in Indonesia that’s forecast to have a greater […]

August 20, 2021 Source

Nickel miners need to increase Class 1 output t...

Bank of America Securities cited “phenomenal” demand from the stainless sector in a research note, accounting for 70% of global nickel consumption as well as a longer-term demand from electric vehicles expected to reach a penetration rate of 51% by 2030. “Keeping in mind exponential demand growth, a key concern of the nickel market is […]

July 26, 2021 Source

Booming stainless steel output to sustain nicke...

Healthy demand from stainless steel mills and electric vehicle battery makers is expected to underpin nickel prices over coming months. Benchmark nickel prices on the London Metal Exchange, at $19,500 a tonne, are up more than 20% since April and at their highest since February. Production of 300-series stainless steel containing 8%-9% nickel jumped 36% […]

July 24, 2021 Source

China’s scrap imports fall with higher ov...

China’s ferrous scrap imports slipped in June as demand dropped in response to falling domestic steel prices in May. Japan and South Korean still remained the two main suppliers, although both fell significantly from the previous month. Suppliers allocated more volumes to their domestic markets on firmer demand and higher prices. Chinese buyers’ appetite faded […]

June 20, 2021 Source

Stainless production ramps up in US, Europe

International Stainless Steel Forum says the first 3 months of 2021 witnessed a global production of 14.5 million tonnes stainless steel. This also represents a 2.7% rise compared with the previous quarter.  The most dramatic year-on-year rebound has been in China, where nearly 37% more stainless steel was produced in the first quarter of this […]

June 10, 2021 Source

Fitch upgrades nickel forecast on long-term upt...

The nickel price will remain on a gradual uptrend in the long term as the global market remains in deficit, prompting Fitch Solutions to upgrade its long-term nickel price outlook from $15,750 per tonne to $16,500 per tonne for 2021. In recent months, Fitch reports that prices have broadly recovered from a steep price correction […]

May 20, 2021 Source

China’s scrap steel imports soar in Apr

After the Chinese government allowed the imports of scrap steel early this year, China imported 76,200 tonnes of scrap steel in the month of April. According to statistics from China Customs, imports soared by 67% compared to the previous month. Among them, stainless steel scrap accounted for around 4,800 tonnes, a month-on-month decrease of 65.8%, […]

May 20, 2021 Source

MITI issues final anti-dumping determination fo...

On 23 April 2021, the Ministry of International Trade and Industry (MITI), Malaysia issued its final determination under the Countervailing and Anti-Dumping Duties Act 1993 and the Countervailing and Anti-Dumping Duties Regulations 1994 in respect of the importation of cold rolled stainless steel in coils, sheets or any other form (‘subject merchandise‘) originating or exported […]