Discovery and volatility: Nickel’s ongoing impact on the stainless steel industry

By Ellie Pritchard

Discovery and volatility: Nickel’s ongoing impact on the stainless steel industryNickel prices are volatile – they always have been. But recent fluctuations have led the steel industry on a rollercoaster ride of peaks and troughs. LME’s price graph for 2020 shows a concerning path of instability rather than the reliable price index the industry so yearns for. This of course follows a year of pandemic-related disruption; in March, prices were at their lowest of U$11,055 per tonne. By the end of November nickel had reached its highest level of US$16,343 – January 2021’s figure is higher still at US$18,133 per tonne.