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The nickel price once increased sharply to more than US$100,000/ton yesterday (March 8). Affected by this, LME canceled all the transactions yesterday. The rise was out of control and not in the expectation.
Due to this, all of Taiwan''s stainless steel mills stopped offering prices. The end users also didn''t take the risk to buy now.
If the nickel price remained at a record high, it was expected that Taiwan''s stainless steel mills will hike the price a lot for April.
The ongoing Russian-Ukrainian war will also affect the nickel supply. According to BHP, the crazy metal prices will roil the economic growth.
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