2021 in Review: Stainless steel stories of the year on MetalMiner

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Continuing our review of 2021 — we previously recapped the most-viewed carbon steel and aluminum articles of the year — today we’ll take a look at stainless steel.

As MetalMiner analyst Nichole Bastin noted earlier this month, nickel prices surged to a seven-year high in November. More than two-thirds of global nickel production goes toward stainless steel output.

After peaking in late November, nickel prices retraced and consolidated, reaching $19,700 per metric ton last week.

Meanwhile, earlier this year, nickel prices plunged on the heels of nickel supply news from China’s Tsingshan Holding Group. The LME three-month nickel price plunged from around $19,700 in late February to $16,000 per metric ton in early March.

However, buyers continue to face shortages of stainless steel. According to MEPS International Inc., a U.K.-based steel market analysis firm, U.S. stainless steel production is forecast to rise by 16% this year.

Even so, shortages will likely continue into next year.

“Shortages of stainless steel, particularly cold rolled coil, are likely to be a feature of the domestic market in the short term,” MEPS said in a Dec. 1 report.

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Most-viewed stainless steel stories of the year on MetalMiner

stainless steel rods

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  1. Stainless MMI: Base prices, surcharges continue to increase

  2. Stainless MMI: Stainless steel demand expected to keep increasing

  3. Stainless MMI: Strong stainless demand to continue into 2022

  4. Stainless MMI: ATI strike continues into seventh week

  5. Stainless MMI: Demand, prices to increase in 2021; ATI exits standard stainless sheet product market

  6. Stainless MMI: Stainless producers announce base price hikes

  7. Stainless MMI: Strike continues at ATI; nickel price plunges then stabilizes

  8. Stainless MMI: Nickel price drops on Tsingshan supply news

  9. Stainless demand drives nickel prices

  10. Bullish China stainless steel market expected to continue in 2021

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