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May 2022 Nickel & Surcharge Update

May 2022 Update


Thanks for reading the Ram Alloys Monthly Nickel and 316L s/c update, intended to help our valued customers make educated business decisions.
Sorry for the typo in last month's update, which was supposed to be entitled April, not May. This is May's update.

EV Batteries and LME Speculation:

  • We still maintain pricing worries trump supply worries, but recent news from the mills may cause us to flip back to supply scaries.
  • Several short articles below discuss EV Batteries and the Nickel market, all are worth a read
    • Tesla's pivot to LFP batteries may curtail Nickel prices, speculation
    • Rising EV battery costs may curtail EV demand, and therefore Nickel prices
  • LME Nickel prices dropped and flattened this month
    • Appears to be supply related
    • The next headline could change this...




Current TakeJune22 Nickel Projections

May/June may be your last opportunity to plan for projects in 2023. Consult your preferred supplier and develop a plan, even for just 25% of your expected demand. Small effort will pay handsomely. Planning gives certainty to an uncertain environment, filled with pricing and lead time contingencies.
LEAD TIMES: Some mills have stopped taking orders due to capacity constraints and cost confusion. Some mills are booked through 2024. This could be the beginning of a bubble burst or the continuation of supply chain pain.
PRICING: The domestics jumped on the EU's energy surcharge bandwagon, issuing their own version for May. Such surprises complicate planning and lead to further uncertainty, although they are real costs. June may see a small increase, July and August will be the ones to watch.
Story to watch in 2022 (update): 2021 Energy and Aerospace demand for stainless steel and nickel alloys, while up from 2020, is nowhere near historical levels. Either sector can substantially disrupt an already discombobulated supply chain with traditional consumption.
Demand has increased in both sectors since our last update, raising prices and increasing lead times further than anticipated.

Yearly/Monthly 316L s/c and Ni Charts 


Ni Price History 

Industry News 

Click the links to read the articles below:


EU Quota Info  

EU Quota System Highlights:


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stainless steel and nickel prodcuts