Pricing Factors: Nickel

To keep everyone in the loop with what we are seeing in the market recently, we wanted to offer an update on two factors we are keeping a close eye on. We have been going back and forth with factories overseas for the past few weeks as we see prices are increasing a bit.

Specifically, the price of Nickel has increased about 50% since January 2019 and many of the mills that make the wire for screws have been rejecting orders for wire. If the price of Nickel continues to climb, they will be able to charge more for the raw material. This will especially affect 18/8 stainless steel parts, which have a relatively high Nickel content. China Steel of Taiwan, which has a closed-market for Taiwanese steel wire, confirmed that they expect to keep prices for steel wire stable for Q4 2019.

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