Nickel prices tied to Indonesia’s ban

Apr 11, 2014 | 05:57 PM | Rey Mashayekhi

Tags  Nickel, scrap metal, stainless steel scrap, Institute of Scrap Recycling Industries, ISRI, Rey Mashayekhi

LAS VEGAS — Rising nickel prices continue to pose new challenges for end-users and stainless steel scrap companies, according to panelists at the Institute of Scrap Recycling Industries’ (ISRI’s) annual convention in Las Vegas, with the fate of the market inextricably linked with the “elephant” that is Indonesia’s nickel ore export ban.

The panelists at the “Spotlight on Nickel/Stainless” discussion cited several factors that have driven nickel prices to their highest levels in a year and impacted the mechanics of markets that are sensitive to price volatility. The London Metal Exchange’s cash nickel contract broke $17,000 per tonne ($7.71 per pound) April 10 for the first time since March 15, 2013. ....

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