- Nickel prices have risen over the past 30 days to @$7.07 per lb. ($6.70 in the last update). Warehouse levels were essentially flat this month at 237,306 tons (236,988 tons in the last update).
- Producer prices for stainless pipe were up month-over-month through September, rising by 0.7% M/M (down 2.5% last month); but they were down 2.1% Y/Y (down 1.0% last month).
Key factors that could affect supply or price:
- Automotive and transportation manufacturing, medical and U.S. residential housing activity could work as a catalyst to continue to push prices and demand higher. Offsetting that trend is weaker corporate and institutional spending. Stainless steel scrap is at 23 cents per pound.