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Print[Ferro-Alloys.com] The labor unrest at South Africa’s platinum mines will affect nickel and take 2,000-3,000 mt out of the market. At the same time, the rising nickel prices could potentially push stainless steel buyers back into the market, insiders said.
For the last six-to-eight months, declining nickel prices have meant lower surcharges. Stainless steel purchasers have been reluctant buyers, waiting for prices to fall further and relying on stocks. The alloy surcharge is likely to rise in October, and endusers with low stocks will be motivated to buy before the new surcharges take effect, Gardner said. Steel consumers are much more apt to buy in a rising than a falling market.
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