BNM’s video profile is officially published on YouTube. By accessing the link, BNM Precision Stainless Steel, BNM welcomes viewers to observe full plant layout, as well as experience entire up-to-date mechanism of BNM’s facilities.

Nickel with a strong gain of more than 4.5%

Nickel with a strong gain on Monday morning. After inflation worries had slightly weighed on the commodity exchanges on last Friday, important metal values are rocketing away today. Chinese spot prices for stainless steel increase strongly. US steelmaker reports noticeable increase in demand from the automotive sector. And China has reported record sales of new energy vehicles in 2021 and is targeting sales of ten million units per year in the near future.

Bullish start for stainless steel after Lunar New Year

After the Lunar New Year holidays, the Chinese stainless steel and aluminum market has started the new year on a bullish note. Very good demand, tight availability and an overall optimistic mood are fuelling prices on the Chinese SHFE and the spot market. Nickel prices in Asia are also rising steeply. And prices for base metals and semi-finished products are also up today.

Steel prices rise, bullish demand

Steel prices are rising due to optimistic demand and already well-filled order books at manufacturers. After the Lunar New Year holidays, a significant increase in domestic demand is also expected from China. Prices for intermediate products, such as steel and semiconductors, are expected to remain high in Germany for 2022. And the trading day on the LME starts on a positive note, with nickel up almost 3%.

Nickel jumps to over $24,000 at start of trading

LME nickel jumps more than 4% to over $24,000 per tonne at the start of trading. SHFE nickel and stainless steel futures have already risen by up to 8% and 6.5% respectively today. 

Taiwanese stainless steel mills plan price increases for February

Taiwanese and Japanese stainless steel producers plan price increases for February 2022. Chinese stainless steel already more expensive and hard to get. Metals continue their rally from 2021. And nickel stocks continue to decline.