LME Nickel Prices to Hover at Highs (2017-9-8)

Luxembourg-based stainless steel producer Aperam has raised alloy surcharges for its European austenitic stainless steel flat products for June, effective June 1, 2026. The surcharge for 304 rose to EUR 2365/ton from EUR 2243/ton in May; 316L increased to EUR 4056/ton from EUR 3813/ton; and 309S moved up to EUR 3192/ton from EUR 3020/ton. Ferritic grade 409 bucked the trend with a slight decrease to EUR 917/ton from EUR 921/ton.

Chinese Taiwan's upstream stainless steel mills raised June domestic prices, marking a seventh consecutive monthly increase. Benchmark 304 hot-rolled and cold-rolled coils rose NT$2000/ton, bringing the cumulative seven-month gain to NT$25,500/ton. The adjustment was driven by rising raw material costs and upcoming summer electricity rates, with higher molybdenum prices and a firmer May LME nickel average offsetting slight declines in Chinese ferrochrome and ferronickel. Asian cold-rolled coil export prices also rose USD120/ton over the past month, providing additional support. Despite cautious, need-based downstream procurement, markets expect stable to slightly higher near-term prices amid firm global markets and supply reductions in China.

At the 2026 SMM Indonesia Mining & Critical Metals Conference, SMM VP Shirley Wang said the DRC has historically been the dominant centre of global cobalt supply, but Indonesia's share has risen notably following policy shifts last year. Over the next decade, cobalt contained in Indonesian MHP is expected to account for a growing proportion of global supply, with the market transitioning from a DRC-centric structure to a dual-centre model anchored by both the DRC and Indonesia.