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Stainless steel processing fees in Europe rose in January, marking the second consecutive month of rising nickel prices. Buyers pointed out that the competition between stainless steel plants and the electric vehicle industry is the main reason for the increase in nickel costs.

Affected by the increase in nickel prices, this month’s thickness of 2mm, 304 stainless steel cold-rolled coil processing fees rose by 71-88 euros month-on-month. The processing fee for 304 stainless steel rods on the surface of BA increased by 80-109 euros compared with last month.

According to the assessment of professional institutions, the delivery price of 2mm thick, 304 stainless steel cold-rolled coils in northern Europe in early January was 2180-2230 euros/ton, an increase of 80-100 euros compared with the average price in December 2020. The quotation on January 15, 2021 is 2,300 euros/ton.

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