After a sharp correction mid January which had pushed the nickel price on the London Metal Exchange (LME) from over USD 24,000.00/mt down to just below the USD 22,000.00/mt mark, a clear recovery started again.
After a sharp correction mid January which had pushed the nickel price on the London Metal Exchange (LME) from over USD 24,000.00/mt down to just below the USD 22,000.00/mt mark, a clear recovery started again.
Full order books, little scrap, political unrest in Kazakhstan, one of the main chrome producing countries, and the completion of a company acquisition whereby a large European producer takes one of the three big stainless steel scrap recyclers on board.
In a publication, the investment bank, JP Morgan mentions that it finds the industrial metals complex somewhat uninspiring at the moment, now that the quieter part of the year is approaching.