September 26, 2022

Is India set to replace Europe and the US to be...

While on one hand, the total export volume of stainless steel to Europe by China has decreased since June and July by over 10 %, this number has increased in the case of India. In addition to the European and American markets, India is now the second largest export market of stainless steel for China. […]

September 26, 2022

European stainless steel mills closing due to e...

Due to skyrocketing energy prices and weaker demands, many European stainless steel companies are scaling back or shutting down their production. This crisis began when Russia shut down a big gas pipeline indefinitely. In response to the sanctions that the European countries have imposed on Russia due to the ongoing Russia-Ukraine, Russia is using its […]

August 28, 2022

Indonesia may impose export tax on nickel 

Indonesia, the world’s largest and fastest-growing producer of nickel, is planning to impose an export tax on nickel. The country is doing so since it wants to add more value locally to increase its state revenues and provide more employment opportunities within the country.  (Source: Shanghai Metals Market)

August 28, 2022

Weak demand and surplus supply in China lead to...

China’s high-carbon ferrochrome output China’s high-carbon ferrochrome output fell by 19,900 mt on the month and up 148,200 mt or 35.94% on the year to 560,600 mt in July. While the output of ferrochrome declined, the supply was still in surplus amidst weak demand. This resulted in a decrease in ferrochrome prices.  (Source: Shanghai Metals […]

July 26, 2022

China’s stainless steel exports on the rise

While China’s stainless steel imports stood at 271,300 MT in June 2022, the export volume stood at 489, 900 MT. The import was up by 8.6% on a y-o-y basis and 18.03% on an m-o-m basis.  Countries such as Turkey, Japan, and South Korea have also witnessed an increase in export volume considerably, with India […]

July 26, 2022

“Nickel Asian trading to return soon”, LME CEO

According to London Metal Exchange (LME), the world’s largest and oldest forum for metals, nickel trading is going to restart in Asian hours soon. LME was forced to suspend the nickel market and cancel all trades after the commodity reached record highs, touching above $100, 000 a tonne.   The prices of commodities had surged due […]

June 27, 2022

First 3 months of 2022 witness a decrease in st...

According to the figures released by World Stainless Association, the first three months of 2022 show that the stainless steel melt shop production has decreased by 3.8% year–on–year to 14.5 million metric tons. However, in terms of Asia’s figures, barring China and South Korea, the stainless steel melt shop production increased by 4.1 % year-on-year […]

June 27, 2022

Stainless steel imports fall in May but exports...

According to SMM statistics, China’s stainless steel imports stood at 229,800 mt in May, a month-on-month decrease of 9,176 or 3.84%, and a year-on-year decrease of 24.05%. The import volume from Indonesia also declined simultaneously.  The export volume, on the other hand, increased significantly by about 486,700 mt compared with April, a month-on-month increase of […]

May 26, 2022

Nickel supply expected to boom this year

Global nickel usage surged by an extraordinary 16.2% in 2021 on the back of booming demand from both the stainless steel and battery end-use sectors. International Nickel Study Group (INSG) expects nickel usage to grow another 8.6 % this year, exceeding the 3.0 million tonne mark for the first time ever. Moreover, INSG is expecting […]

May 26, 2022

India to import 30 million tonnes ferrous scrap...

MRAI reported that India is expected to import about 30 million tonnes of ferrous scrap annually by 2030 in order to meet the Indian government’s vision of achieving a domestic steel production capacity of 300 million tonnes per year. As per MRAI, domestic scrap generation is increasing because of the government’s push on construction and […]

April 29, 2022

European Mn flake market weighs impact of China...

European manganese flake market is monitoring potential knock-on effects of COVID-19 restrictions and currency depreciations in China, in an effort to anticipate near and medium-term price direction in Europe. Weak domestic demand from China’s 200 series stainless steel segment pushed the heavily inflated market into a downward trajectory from late February until early April, since […]

April 29, 2022

INSG: Global demand for nickel will rise to 3.0...

INSG said that the global nickel demand is expected to increase to 3.02 million tonnes in 2022 from 2.78 million tonnes last year. INSG added that the global nickel production is expected to increase from 2.61 million tonnes last year to 3.08 million tonnes in 2022, mainly due to the expected increase in output in […]

March 30, 2022

Global battery sector’s demand for Nickel likel...

Japan’s largest nickel producer said that global demand for nickel in the battery industry will grow by more than 20% this year due to firm demand for electric vehicles. The producer supplies cathode nickel for Panasonic lithium batteries used in Tesla’s electric cars. Demand for nickel used by rechargeable batteries will rise to more than […]

March 30, 2022

Stainless steel contract up over 6%, SS spot su...

Spot prices of each stainless steel series rose in different degrees. Prices of 304 stainless steel went up due to the rise of LME nickel after opening, coupled with the market shutdown for unexpected accidents, resulting in a relatively tight supply. SHFE nickel hit limit up and SS contract rose 7% as well as the […]

March 1, 2022

Nickel price hits decade high as Ukraine tensio...

Nickel rose to $25,000 a ton for the first time since 2011, extending a rally driven by dwindling global inventories and concerns that Ukraine tensions could disrupt supplies from key producer Russia. The metal, used in stainless steel and rechargeable batteries, advanced as much as 3.2% to $25,135 a ton. It’s the top performer on […]

January 31, 2022

Ni surges on renewed inventory drawdown

The three-month nickel price on the London Metal Exchange (LME) touched its highest in over 10 years as global stocks dropped to new lows at a time of solid demand. Prices have been supported by a rapid draw of stocks led by strong demand. After falling in March-April 2021, the nickel market rebounded strongly in […]

January 31, 2022

China’s stainless steel market closes ahead of ...

China’s domestic and export markets for stainless steel closed this week ahead of next week’s Lunar New Year holiday, but prices were higher in response to gains in nickel. Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 18,300-18,500 yuan ($2,895-2,927) per tonne, up by 400 yuan per tonne from a week earlier. Nickel gains last week […]

December 28, 2021

China’s manganese production is forecast to fal...

Output cuts by several Chinese stainless steel producers are expected by market participants to pressure the spot manganese flake market in the short term. Manganese metal is mostly used in production for 200 series stainless steel. Key producers have begun to cut 200 series stainless steel this month in response to falling steel prices. China’s […]

December 28, 2021

Stainless steel production increases by 16.9% i...

The International Stainless Steel Forum (ISSF) has released figures for the first nine months of 2021 showing that stainless steel melt shop production increased by 16.9% year–on–year to 43.0 million metric tons. (Source: ISSF)

November 25, 2021

Global Ni supply, demand growth likely in sync ...

The world’s nickel supply and demand growth is very likely to be in sync in 2022, given the development of new projects on both the nickel production and consumption sides. The growth next year from both the supply and demand sides is expected to be about 300,000-350,000t. An estimated stainless steel production growth of 5pc in […]

November 25, 2021

China’s scrap steel to contribute to lower-carb...

Supplies of scrap steel in China are expected to be about 338 million metric tons by 2025, which will significantly promote the development of electric arc furnace-based steelmaking in the country. As China aims to peak carbon dioxide emissions by 2030 and realize carbon neutrality by 2060, production technologies with lower carbon emissions, such as […]

October 23, 2021

Supply chain woes force shifts in bulk alloy pu...

Tight supply and steep price hikes for bulk ferro-alloys and other stainless steel inputs are encouraging a shift in buying behaviours, with market participants leaning away from back-to-back spot trades. Several large European mills have already secured material for the first quarter of 2022, increasingly aiming to stockpile material rather than rely on hand-to-mouth top-ups from […]

October 23, 2021

Severe supply tightness of NPI sent nickel pric...

The current tightness of NPI, coupled with the upward trend in cost-end prices (mainly rising electricity prices) and the reduction in NPI output caused by power rationing, has made the problem of NPI shortage more difficult to solve. The supply of NPI in Indonesia is still tight. In the first quarter of next year, as […]

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 […]

April 21, 2021 Source

Nickel-rich Indonesia draws global suppliers of...

Major overseas companies are rushing to set up nickel-processing facilities in Indonesia as the country bans exports of raw ore. Germany-based BASF and French nickel processor Eramet are considering building a nickel- and cobalt-refining complex in Indonesia. The facilities would supply an annual 42,000 tonnes of nickel and 5,000 tons of cobalt, for use in […]

April 21, 2021 Source

Global molybdenum production rises while usage ...

As per figures released by the International Molybdenum Association (IMOA), global production of molybdenum rose by 5% in 2020 to 602.4 million pounds from 575.4 million pounds in 2019. However, global usage was 545.9 million pounds in 2020, a fall of 5% from 576.3 million pounds in the previous year. South America overtook China to […]