Current situation:

• Nickel prices have fallen over the past 30 days to @$5.84 per lb. ($6.48 in the last update).  Warehouse levels were up again this month at 215,802 tons (178,584 tons in the last update).
• Producer prices for stainless pipe were lower through January, falling by 3.1% M/M (up 1.9% last month); however, they were up 1.7% Y/Y (up 2.2% last month).