Steel News

We strive to let you one step ahead of the market.

Nickel prices steady at around 20,000/ton, boosting stainless steel export prices

28 May 2024 17:19 reported by Stanley Wang

A A A
International nickel prices have recently steadied around the US$20,000/ton mark, showing resilience in the market. May's average nickel price surged by over US$1,200/ton compared to April, alongside increases in other non-ferrous alloys. This uptick has also bolstered export prices of stainless steel flat products in China and Taiwan.

In the first half of May, the London Metal Exchange's nickel futures prices fluctuated between US$18,500 and US$19,100. With entering the second half month, the nickel futures prices rose sharply and stabilized around US$20,000. With May's average nickel price reaching approximately US$19,534, a substantial increase from April's US$18,307, market dynamics signals stability and potential growth.

The demand for stainless steel has been lower than expected since May. However, with steel mills regulating shipments and national inventory dropping by 47,000 tons compared to April, the market anticipates continued robust domestic stainless steel consumption in May.

Back to Steel News

Related News

US inflation cool drives LME’s nickel prices

  • Stainless steel
  • 13 Jun 2024 16:53

Indonesian Yong Wang decides to idle its cold-rolled mills for at least two months

  • Stainless steel
  • 13 Jun 2024 15:01

US announces final results of its AD duty review of India's WSPP

  • Stainless steel
  • 12 Jun 2024 17:15

China's stainless steel production cost forecasted to rise in Jun

  • Stainless steel
  • 11 Jun 2024 15:52

Nickel ore disruption boosts ferronickel prices, further drives China's stainless steel prices

  • Stainless steel
  • 5 Jun 2024 15:59

Metal Price Index

Learn more

LME Official Bid Price

  • Zinc
  • 2,808.00
  • 2,861.50
  • Aluminum
  • 2,496.00
  • 2,557.00
  • Copper
  • 9,732.00
  • 9,859.00
  • Nickel
  • 17,525.00
  • 17,775.00

Learn more

Coil Exchange Center

  • 2B Coil-Jul
  • 0
  • 0
  • NO1 Coil-Jul
  • 0
  • 0
  • 2B Coil-Jul
  • 0
  • 0
  • NO1 Coil-Jul
  • 0
  • 0

Learn more