Steel News

We strive to let you one step ahead of the market.

Nickel price hits 10-year high on Jan 12

13 Jan 2022 16:26 reported by Claude Tseng

A A A
The London Metal Exchange (LME) nickel futures closed at US$22,064/ton yesterday (January 12), which hit a 10-year high. In the meantime, China's stainless steel price increased sharply as well.

The LME nickel stock dropped to below 100,000 tons, which was the lowest level in history. Stimulated by this, Taiwan's deal price has already stopped decreasing and increased these days.

If nickel prices remained high, it is expected that the stainless upstream manufacturers will increase prices for February. As for the increased range, it still depends on the following nickel prices. Indonesia's plan to impose export taxes on nickel pig iron is also the main reason for the increase in nickel price.

Back to Steel News

Related News

INSG: Global nickel demand to grow by 8.6% in 2022, driven by resumed stainless steel production & battery demand

  • Stainless steel
  • 20 May 2022 16:37

LME nickel price rebounds on May 19, supported by nickel shortages

  • Stainless steel
  • 20 May 2022 16:36

Taiwan imports big proportion of 300 series stainless steel HRC from Indonesia in Jan-Apr

  • Stainless steel
  • 19 May 2022 16:39

Yusco & Tang Eng to benefit from stable nickel market

  • Stainless steel
  • 18 May 2022 17:08

Turkey’s stainless steel coils imports hike in Q1 y-o-y

  • Stainless steel
  • 17 May 2022 17:14

Metal Price Index

Learn more

LME Official Bid Price

  • Zinc
  • 3,647.00
  • 3,635.00
  • Aluminum
  • 2,825.50
  • 2,839.50
  • Copper
  • 9,286.00
  • 9,273.00
  • Nickel
  • 26,100.00
  • 26,190.00

Learn more

Coil Exchange Center

  • 2B Coil-Jun
  • 4,160
  • 4,020
  • NO1 Coil-Jun
  • 4,130
  • 3,990
  • 2B Coil-Jun
  • 4,160
  • 4,020
  • NO1 Coil-Jun
  • 4,130
  • 3,990

Learn more