Update Nickel and Stainless Prices - April 2022
These are difficult times for all metals due to the Russian invasion of Ukraine and the sanctions imposed. Nickel has remained around the US$32000 range for a number of weeks as inventory levels remain low and volatility high with 5% swings in pricing. This looks likely to remain in the short to medium term as global issues reduce the availability of materials and the added costs of energy.
Stainless Steel prices increased during March and April by 25-30%. Energy costs will further increase, and pricing going forward for 2022 will become a major factor for mills ongoing production and weather to smelt new material. Availability remains an ongoing issue and we are seeing some big gaps in the market, especially on thinner and precision rolled materials.
Stainless Band has maintained the support of its client base by increasing stocks by volume by 25% in 2022. Our Stainless Band team remains committed to our customers during these turbulent times. We are here to help you forward plan your material requirements and keep you up to date with the current market conditions.
Posted on: 06-04-2022
You may also like
Update on Stainless Pricing October 2022
September 2022
Stainless steel prices have increased for October as we enter the final quarter of 2022. Nickel is back to US$24,000, which has seen increases in alloy surcharges for October of 5%, and there are also expected base price increases.
Update on Stainless Pricing September 2022
September 2022
Stainless Steel prices have seen a calmer period as we enter the fourth quarter of 2022 as the Nickel price fell to US$22,000, which helped reduce alloy surcharges for August/September.