Fluctuations in nickel prices make stainless steel market nervous
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Update time : 2021-09-14 20:43:38
LME nickel price hit a 7-year high to US$20,500/ton last week due to supply shortage. The demand for electric vehicle batteries and stainless steel significantly increased. LME inventories continued to decline, which led to a shortage of nickel.
LME nickel price was over US$20,000 last week, greatly boosting the stainless steel market performance. However, it fell by 3% yesterday (September 13), triggering the traders’ concern about the unstable stainless steel market.
Regarding the fluctuations in the LME nickel price, whether there are people who intervene artificially, has attracted the market’s attention.
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