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Stainless steel prices driven by increasing nickel price
Date: 06-09-2019 00:00:00

LME nickel price skyrocketed last Friday (August 30th), surging by nearly US$1,500/ton and hitting a 10-year high, coupled with the upward market prices of stainless steel from China, the price of stainless steel in the market has been risen accordingly. According to market participants, the future stainless steel market was expected to remain steady since the rising nickel price has offset the sluggish demand. Besides, the volume of transactions has also increased recently. The current LME nickel future has reached US$10,860/ton, and the spot price has also come to US$18,118/ton.

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