US stainless steel prices rise on shortage risk

According to the US market, the price of stainless steel in the US consistently showed strong performance last week.

Based on some market sentiment, the current supply of nickel and scrap has been limited, which has been the main reason for the long-term high prices for stainless steel in the US.

Nickel ore futures price on the London Metal Exchange (LME) was $23,945 per ton on Feb. 15, up 1.78% over the week; Nickel stocks on the LME for the week decreased by 1824 tons and amounted to 83820 tons.