The global nickel market reported a production deficit of 52,600 tonnes during the three quarters of 2016, compared with a surplus of 74,800 tonnes in the same period last year. In addition, the nickel market will continue to be in short supply in 2017.
The Philippine administration's ban on nickel mining has led to a sharp rise in nickel prices in recent months. Increased spending on infrastructure by the Chinese government has also boosted nickel demand.
Therefore, the stainless steel scrap market has continued to float over the past few months. Prices for 304 scrap rose from $ 1090-1140 per ton to $ 1140-1190 per ton. In addition, prices for 316 scrap increased from $ 1390-1440 to $ 1470-1520 per ton. Prices for 409 scrap also rose from $ 210-250 per tonne to $ 260-300 per US tonne. Prices for 430 scrap increased from $ 300-340 to $ 340-380 per ton.
Brazil, Mexico, USA, Japan, France, the Netherlands and Germany have become major exporters of stainless steel scrap. Among European countries, the main importers were Belgium, Finland and Spain. Among Asian countries, India, Taiwan, China and Korea are major importers of stainless steel scrap.
Rising nickel prices lead to higher prices for stainless scrap
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Azovpromstal® 29 November 2016 г. 09:35 |
