The Stainless Monthly Metals Index (MMI) increased by 4.5%, as stainless flat rolled base prices continue to move upward due to extended lead times and limited domestic capacity (following a similar trend with steel prices).
Stainless steel producers raise prices
Stainless steel producers
Outokumpu announced price increases effective for February deliveries.
Both producers announced a two-discount-point reduction for standard chemistry 304, 304L and 316L. For 304, the base price increase amounts to approximately $0.0350/lb.
Outokumpu diverged from NAS, as it increased all other 300 series alloys, 200 series and 400 series by reducing the functional discount by three points. In addition, Outokumpu also will be implementing a $0.05/lb adder for 21 gauge and lighter.
The outreach to Canada Nickel shows heightened U.S. government interest in securing supplies of critical minerals used in everything from electric vehicles to advanced weaponry
2 Min Read
FILE PHOTO: A Volkswagen E-Golf electric vehicle is displayed at the Canadian International Auto Show in Toronto, Ontario, Canada February 18, 2020. REUTERS/Chris Helgren/File Photo
TORONTO (Reuters) - Junior miner Canada Nickel Co Ltd has held talks with U.S. government officials about potentially supplying nickel for electric car batteries, its chief executive said, amid mounting concern in Washington about China’s dominance of global supply chains.
“It’s become very clear that there’s large portions of the periodic table for which the United States has no local source of supply,” Canada Nickel chief executive Mark Selby said in an interview. He confirmed the talks but declined further comment.
Canada Nickel held talks with U S government on supplying metal for EV batteries — Agenparl agenparl.eu - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from agenparl.eu Daily Mail and Mail on Sunday newspapers.
By Reuters Staff
(Adds details, updates prices)
Feb 8 (Reuters) - Canada’s main stock index rose on Monday, buoyed by cannabis and materials stocks, as investors hope for a significant U.S. stimulus package to help spur a faster economic recovery. Healthcare sector gained 3%, supported by pot producers. The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.9% as gold futures rose 1.2% to $1,833.4 an ounce. At 9:40 a.m. ET (1440 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 126.16 points, or 0.7%, at 18,262.06. Junior miner Canada Nickel Co Ltd has held talks with U.S. government officials about potentially supplying nickel for electric car batteries, its chief executive said, amid mounting concern in Washington about China’s dominance of global supply chains.