Nickle price rising again

LME urgently cut off nickel futures trading,Shanghai nickel continued to rise sharply today,nickel price rising again

The LME has said it is cancelling all nickel trades executed on or after 00:00 am UK time on 8 March 2022 on over-the-counter and LME select screen trading systems.  Delivery of all spot nickel contracts scheduled for delivery on March 9, 2022 will be delayed.

No date has been set for the resumption of nickel trading in London, and it is not expected to restart nickel trading before March 11, and a series of price limit measures will also be adopted after the restart, such as a 10% price limit.  The Shanghai Futures Exchange reminded to do a good job in market risk control and adjust the transaction fee, margin ratio and price limit of related futures contracts. 

On March 9, the main price of Shanghai nickel increased by 17%. Analyst's point of view: Shanghai nickel is due to the tight international supply, the increase in buying in the national market, and the unprecedented market demand, which also drives the futures market to rise rapidly.  

Nickel is mainly used in austenitic stainless steel, and its content directly affects the price trend of this stainless steel, and its price will also rise due to the influence

Therefore these days our stainless steel bars,stainless steel pipe,stainless steel honed tube price also rising,even stainless steel wires,stainless steel wire ropes and wire rope fittings,fasteners

SS304 price rising about 500usd per ton,SS316 stainless steel price rising more

Hope next week the nickel price could be stable and when you need stainless steel bars and pipes and stainless steel wire ropes,please contact us for inquiry my friend.