Current situation:
- Nickel prices have risen over the past 30 days to @$6.02 per lb. ($5.82 in the last update). Warehouse levels were up this month at 234,738 tons (233,118 tons in the last update).
- Producer prices for stainless pipe were up through June, rising by 0.2% M/M (down 0.9% last month as well); they were also up 1.4% Y/Y (up 0.5% last month).
Key factors that could affect supply or price:
- No change from last month. Stainless pipe and fittings have rallied slightly, moving from the low $5.00 range two months ago to $5.82 today. Stainless steel scrap is at $0.18 per pound for 304 grade, which is down significantly over the last quarter.
