- Nickel prices have fallen over the past 30 days to @$8.03 per lb. ($7.26 in the last update). Warehouse levels were sharply lower this month at 254,982 tons (262,950 tons in the last update).
- Producer prices for stainless pipe were up month-over-month through April, rising by 1.5% M/M (up 6.2% last month); they were also up 15.4% Y/Y (up 12.7% last month).
Key factors that could affect supply or price:
- Prices are up another 10-14% since last update.
- Nickel is over $8/lb.
- Lead times continue to be extended.
- ATI strike does not appear close to being resolved.
- NAS/OTK have placed everybody on allocation.
- Imports are tougher to get delivery on due to container costs and delays.