Current situation:
- Nickel prices have risen over the past 30 days to @$7.12 per lb. ($7.07 in the last update). Warehouse levels were essentially flat this month at 238,980 tons (237,306 tons in the last update).
- Producer prices for stainless pipe were up month-over-month through October, rising by 1.3% M/M (up 0.7% last month); but they were down 4.7% Y/Y (down 2.1% last month).
Key factors that could affect supply or price:
- Like last month, automotive and transportation manufacturing, medical and U.S. residential housing activity continue to work as a catalyst to push prices and demand higher. Offsetting that trend is weaker corporate and institutional spending.
