Stainless steel prices increase

Stainless steel prices in Asia rose last week and greeted today’s start to the week with a sideways movement. Stainless steel futures on SHFE have also seen positive movement over the past three months.

SHFE Nickel with sideways movement
Nickel contracts on SHFE also moved sideways at the start of the week, although marginal profit taking was observed. Overall, however, the nickel traded on the SHFE has also developed positively in the last three months and has risen by 7% in price. Asian spot market prices for nickel are maintaining their high level at around $24,000 per ton, despite volatile movements

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