Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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December 2018 | Stainless Steels

Prices set to stabilize but uncertainty mounts for 2019: European Highlights

Nickel prices are currently trading at just under $11,000/tonne, having fallen almost consistently since the summer when prices peaked at around $16,000/tonne.

For the majority of the past seven years, final transaction prices of grade 304 cold-rolled sheet in Europe have oscillated in a narrow range of €2,000-2,500/tonne. Where they have moved outside of that range it has not been by much. A high of some €2,650/tonne was reached earlier this year in July following a run-up in prices during the first half of 2018. Meanwhile, a low of around €1,850/tonne was hit in early 2016 on the back of heavy declines in commodity prices.

Much has been said of the ongoing malaise affecting the global economy. In terms of stock market movements and GDP growth slowing we have previously highlighted the similarities between now and late 2015. Back then, sell-offs across risk assets such as commodities saw contract prices of ferrochrome fall as low as $0.82/lb chrome contained. Nickel prices hit...


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