Current situation:
- Nickel prices have risen over the past 30 days to @$8.18 per lb. ($7.85 in the last update). Warehouse levels were higher this month at 249,306 tons (244,236 tons in the last update).
- Producer prices for stainless pipe were up month-over-month through December, rising by 2.1% M/M (up 0.4% last month); but they were down 3.4% Y/Y (down 6.7% 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.
