Nickel Prices Plunge, Dampening Market Confidence and Affecting Stainless Steel Demand

Published: Mar 19, 2026 16:23

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[SMM Nickel Flash] March 19 News: Supply side, as nickel prices pulled back sharply under pressure from macro sentiment, market confidence was dampened, and some upstream quotations loosened noticeably. Demand side, stainless steel prices were unlikely to rise, and amid the pullback in sentiment, intended prices from downstream steel mills also fell, with some low-priced transactions seen in the market. Overall, the sharp drop in nickel prices dragged on market confidence, and the price center of high-grade NPI pulled back.

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