Aug 21

Nickel’s Upward Pressure: Nickel prices have shown renewed strength through late July and into August, hovering above $17,000/MT on the LME. This is placing immediate upward pressure on stainless steel and nickel-alloy pricing globally. With LME inventories fluctuating, stainless steel mills are pushing for higher base prices to protect margins.

Ferrous Scrap Holding Steady: The export scrap market, particularly from the US to Turkey, has flatlined this week. Prices for HMS 80/20 remain stubbornly fixed at around $375–$376 per metric ton (CFR). The European market is experiencing a quiet August due to traditional summer holidays, keeping demand for imported scrap and standard carbon steel subdued.

Export Strategy Focus: Exporters should prepare for rising import-related costs in Western markets as new tariff systems and carbon quotas (CBAM) take firmer hold. Shift volume allocations toward specialized stainless and high-nickel alloys, which can absorb higher base prices much better than standard carbon steel.