Current situation:
- Nickel prices have risen over the past 30 days to @$6.70 per lb. ($6.58 in the last update). Warehouse levels were up this month at 236,988 tons (238,638 tons in the last update).
- Producer prices for stainless pipe were down month-over-month through August, slipping by 2.5% M/M (down 0.2% last month); they were down 1.0% Y/Y (up 3.2% last month).
Key factors that could affect supply or price:
- 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 0.31 per pound for 304-grade (0.27 per pound on a 30-day moving average).
