Scrap stainless steel prices going up because price of nickel is rising
2022-01-18
Stainless steel scrap prices are rising
With the start of 2022, the price of nickel began to rise. According to metal stock exchange prices, the price of nickel was about $ 21,000 per tonne at the beginning of the month, and as of January 17, 2022, the price had risen to as much as $ 22,800 per tonne. It can be said that the price of nickel increased by about 8-9% during this period. After the price of nickel rose, the purchase price of stainless steel scrap increased accordingly. This is because the prices of stainless steel scrap depend largely on the price of nickel. Following an increase in the price of nickel in early 2022, there has been an increase in the purchase price of stainless steel scrap.
This is because stainless steel scrap prices are highly dependent on nickel prices. Since nickel is an important component in the production of stainless steel, changes in its price have a direct impact on the value of stainless steel scrap.
The increase in nickel prices leads to an increase in the cost of its purchase for stainless steel producers. As a result, steel producers are forced to reallocate these costs to final products, including stainless steel scrap. This leads to an increase in the purchase price of stainless steel scrap.
It is important to note that prices for nickel, and therefore stainless steel scrap, may continue to fluctuate depending on a variety of factors. The impact of global demand for stainless steel, changes in production and the economic situation in nickel-producing countries may affect its price. In addition, geopolitical events and changes in trade policy may also affect the nickel market and prices.
For those who work with stainless steel scrap or are interested in investing in this market, it is important to follow the dynamics of nickel prices and update information on the state of the scrap metal market. This will help you make informed decisions regarding the purchase and sale of stainless steel scrap.
Stainless steel comes in different grades with different metal compositions.As a result, the price of stainless steel scrap may also be affected by the prices of other metals e.g. chromium or molybdenum.
According to the website scraprice.com, AISI 304 stainless steel scrap was the most expensive to buy in Turkey on January 18, 2022. We also recommend reading Review Empire of Sin.
