By Vibin Antony
United States nickel scrap monthly average prices dropped in February in line with nickel futures prices at London Metal Exchange.
In LME, the monthly average prices for nickel dropped by $236.45 a ton month-on-month to $14,534.5 a ton in February. However, nickel inventories on the LME warehouses were at 430,944 tons on February 27th, up by 2,268 tons from the last day.
LME nickel held around a 14-month low on Wednesday, as a relentless rise in exchange-held nickel stocks overshadowed expectations of a shortage of nickel ore towards the end of the year.
The major nickel scrap prices posted a decline on Scrap Register Price Index in February. The scrap prices of inconel 600, inconel 625, nickel 200 and nickel refining base are traded dowm in February.
The monthly average scrap prices for Inconel 600 dropped to $4.096 a pound in February, while Inconel 625 averaged down at 5.461 a pound.
The monthly average scrap prices for nickel 200 declined to $6.0855 a pound in February, while nickel refining base averaged down at 5.542 a pound.
This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
United States nickel scrap monthly average prices dropped in February in line with nickel futures prices at London Metal Exchange.
In LME, the monthly average prices for nickel dropped by $236.45 a ton month-on-month to $14,534.5 a ton in February. However, nickel inventories on the LME warehouses were at 430,944 tons on February 27th, up by 2,268 tons from the last day.
LME nickel held around a 14-month low on Wednesday, as a relentless rise in exchange-held nickel stocks overshadowed expectations of a shortage of nickel ore towards the end of the year.
The major nickel scrap prices posted a decline on Scrap Register Price Index in February. The scrap prices of inconel 600, inconel 625, nickel 200 and nickel refining base are traded dowm in February.
The monthly average scrap prices for Inconel 600 dropped to $4.096 a pound in February, while Inconel 625 averaged down at 5.461 a pound.
The monthly average scrap prices for nickel 200 declined to $6.0855 a pound in February, while nickel refining base averaged down at 5.542 a pound.
This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
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