- Nickel prices have risen over the past 30 days to @$8.82 per lb. ($8.18 in the last update). Warehouse levels were slightly higher this month at 249,510 tons (249,306 tons in the last update).
- Producer prices for stainless pipe were up month-over-month through January, rising by 1.8% M/M (up 2.1% last month); they were also up 1.4% Y/Y (down 3.4% 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, but hints that institutional spending is increasing could push nonresidential construction spending up in the coming months.