Nickel

It is being predicted that both iron ore and copper mining will experience a comeback in the US Midwest, as there is currently a demand for both commodities in local and foreign markets.

There are six mines that are either proposed or already under construction in the Michigan, Minnesota and Wisconsin areas.

Allegheny Technologies has acquired the Salem-based Hanard Machine, which performs precision machining on parts and components made from titanium alloys, nickel-based alloys, superalloys and specialty steel.

The supplier of stainless steel, nickel, cobalt, aluminum and titanium, United Performance Metals, has received approval from Pratt & Whitney. United Performance Metals is now authorized to perform Laser Beam Metal Removal in accordance with PWA 119-1&2.

Since the beginning of this year, nickel values have been on the rise, which in turn have resulted in a substantial increase in stainless steel prices. Nickel prices rose the highest over last month (May 2014) and industry insiders have predicted that transaction values for austenitic grades will climb even more this June.

Analysts have cited the recent high prices for nickel on the Indonesia export ban along with the uncertainty of Eastern Europe’s political situation. This past week, nickel prices hit a two-year high to peak at more than $9.

North American Stainless (NAS) has announced it will be increasing prices on all of its cold roll grades in 200, 300 and 430 series. This price increase will take effect staring June 1, 2014. NAS has explained that the increase will be achieved by reducing the discount by two percent points and will be applied to the updated North American Stainless cold roll price schedule.

It is being reported that stainless steel scrap prices in the United States are continuing to rise as the London Metal Exchange (LME) nickel prices reach the highest they have been over the 14 months.

As recently as last week, grade 316 stainless has risen from USD 2,260 per ton to USD 2,375 and grade 304 has gone from USD 1,790 per ton to 1,860 per ton.

Rolled Alloys, one of the largest suppliers of stainless steels, nickel, cobalt and titanium alloys, has announced the opening of its newest facility in Los Angeles, California.

The 50,000-square foot service center will replace the current location, and expand their west coast inventory range.

So far in 2014, nickel prices have risen sharply despite other industrial metals, like copper and iron ore, struggling in the market.

One of the main reasons for this improvement in nickel prices is Indonesia’s ban on nickel ore exports.

Late last year, MEPS predicted that there would be an upturn in demand for stainless steel, however this has not yet materialized during the first quarter of 2014. However, recent increases in nickel costs have lifted stainless transaction values and helped boost stainless purchases.