Nickel Price Rise

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The price of stainless steel is influenced by fluctuations in the Nickel price and exchange rate on a daily basis. The Nickel price has been rising since June - the price per ton average was $9’084 and the price peaked @ $12’000/ton. However over the past few days it has decreased from $11’530/ton on 13 September down to $11’000/ton on 18 September.

NICKEL PRICE PER TON – London Metal Exchange

18 September 2017 $11'000

13 September $11'530

04 September $12’000

22 August $10’725

16 August – 15 September $11’509

16 July – 15 August  Average $10’108

16 June – 15 July  Average $9’084

For Grade 304 (containing 10-12% Nickel) and Grade 316 (containing 10-14%), the nett effect during the period 16 June – 15 September @ a spot rate of between R13.07 to R13.14 to $1:

304 increasing by R3.09/kg

316 increasing by R4.88/kg