Spot Price of Electroplating Grade Nickel Sulfate on April 10, 2020

The US Department of Commerce has postponed the preliminary determination in its countervailing duty (CVD) investigation into welded stainless steel line and pressure pipe from India and Turkey, extending the deadline from October 8 to December 14, 2026, effective September 21. The postponement was requested on September 10 by the three US petitioners, Bristol Pipe and Tube, Felker Brothers Corporation, and Primus Pipe and Tube, citing the complexity of the alleged subsidy programs and the fact that respondents had not yet submitted questionnaire responses. Commerce found no compelling reason to deny the request. The postponement does not represent a finding against Indian producers; it provides additional time for Commerce to examine subsidy programs and calculate preliminary rates. Any lasting CVD order would require affirmative final determinations from both Commerce and the US International Trade Commission.

The Indian government has announced a five-year extension of anti-subsidy duties on imports of welded stainless steel pipes and tubes from China and Vietnam, continuing trade defense measures against subsidized imports.

[SMM Nickel Flash] On September 21, the SMM high-grade NPI market sentiment factor stood at 1.78, down 0.01 MoM. The upstream sentiment factor for high-grade NPI was 1.84, down 0.02 MoM, while the downstream sentiment factor for high-grade NPI was 1.72, flat MoM. The tug-of-war in the NPI market continued today.