The price of Nickel dropped earlier this year to $16000 (March 2021) just after it reached it’s all time high of almost $20000 a tonne. Since then it’s been sitting in the $16000’s until this week when it jumped up almost $2000 a tonne. This most recent price spike puts it back on it’s steady increase since early 2020.

Stainless steel production uses over two thirds of the global Nickel supply and so the cost of Nickel directly impacts the cost of Stainless Steel. Nickel is an alloying element which improves the formability and weldability of stainless steel while increasing it’s corrosion applications. Grade 304 contains 8% and grade 316 11% .

As a stockholder of stainless steel and manufacture of stainless steel products we are always monitoring the value of stainless so that we can give the best value of products to our customers.