Nickel Prices Climb as Futures Rebound: What This Means for Steelmakers

As of August 14, 2025, LME 3-month nickel futures closed at USD 15,264 per tonne—reflecting a modest recovery from the previous day’s close of USD 15,031. Trading range for the day hovered between USD 15,010 and USD 15,075. These levels suggest renewed optimism in the nickel market heading into the second half of August.
 

Stainless Steel Prices Respond to Nickel

Nickel is a critical alloying element for stainless steel grades such as AISI 304 and 316, directly influencing their production costs. As nickel prices rise, stainless steel mills around the world have started adjusting their prices upward to reflect higher input costs.

In the United States, cold-rolled stainless steel prices rebounded sharply in early August after staying flat through June. AISI 304 prices returned to early May levels, marking the highest point in 2025 so far. The rebound follows two consecutive price hikes by domestic mills, and coil center deliveries have improved compared to the same period last year.

In Asia, major producers in China and Taiwan are also signaling potential price adjustments. Rising futures prices in China, supported by government policies, have boosted market sentiment. Meanwhile, Indonesia’s Tsingshan Group has raised its export offers for 304 hot-rolled stainless steel for the second month in a row, further tightening regional supply.
 

Short-Term Outlook

With global stainless steel demand still recovering and raw material costs rising, analysts expect continued price volatility in the short term. Declining nickel inventories, firm buying interest, and supply adjustments from mills are all likely to support prices through the coming months.

For stainless steel buyers, this means higher procurement costs and the need for closer market monitoring. Locking in supply at favorable terms may help reduce risk in an increasingly unpredictable market.

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✅ YES Stainless International closely monitors global nickel and stainless steel price trends to provide competitive and reliable sourcing solutions. Our stainless steel products—including ASTM A240 304 and 316 coils, sheets, and plates—are manufactured to international standards and delivered with flexible packaging and logistics support to meet client needs worldwide.