January 2025 Nickel & Surcharge Update
Monthly Nickel and Surcharge Update
January 2025 Update
Thanks for reading the Ram Alloys Monthly Nickel and 316L s/c update, intended to help our valued customers make educated business decisions.
Q1 2025: EXPECTING SIMILAR TO Q4 2024
- January 2025 surcharge relatively flat, with a dip expected in February
- Trump Tariffs ---> UNKNOWN IMPACT
- Longshoreman Port Strike: DEAL REACHED, STRIKE AVOIDED (article below)
- Contract details yet to be released
- President Elect Trump now threatens tariffs against EVERYBODY (articles below)
Current Take
RAW MATERIAL PRICES: Nickel prices have subsided recently, largely due to:
- Weak Chinese Economy
- Trump Tariffs Negative Trade Impact
- Rising US Dollar
However, mills are maintaining price levels as they believe stocks are low and demand will soon increase. We still believe stock levels are too high and demand is too low, but are optimistic for Q3.
LEAD TIMES: No change - lead times reduced from 2023 to 2024, and while that may hold true for the first half of 2025, we expect mill lead times to extend Q42025 and into 2026.
BASE PRICES: Q4 2024 Base price Increases held, market will determine longevity.
SECTION 232: Currently, status quo. However, the Trump Tariff Threats have already begun (see articles below).
Yearly/Monthly 316L s/c and Ni Charts
Industry News
Click the links to read the articles below:
- Trump Threatens India With Reciprocal Tax (up to 100%)
- Trump Denies Report He is Paring Back Tariffs (full steam ahead)
- Trump Warns of New Tariffs against Canada, Mexico, EU
- High US Dollar Pushes Metal Prices Down
- Molybdenum Growth Lower Than Anticipated
- China's Yuan Hits 16-Month Low - Fear Trump Tariff
- Longshoremen Reach Tentative Agreement
- Trump Appears to Support Dock Workers in Port Strike
EU Quota Info
EU Quota System Highlights:
- Quotas by EU country, not mill, and by HTS Code, not grade
- Link: Unofficial steel country quotas
- Quarterly volumes based on a first come/first served bases
- Link: US Customs and Border Protection Quota Bulletins
- Link: US Customs and Border Protection Quota Utilizations found in its Commodity Status Reports
- Imported volumes > quota assessed a 25% tariff
- Exclusions apply, but adjustments under consideration
Ram Alloys is a niche service center supplying a complete inventory of stainless steel, nickel products, pump shaft quality bars, and boat shaft quality bars in a full range of standard grades. Value-added services include comprehensive and customized processing options, prompt shipping, same-day order turnaround, and 24/7 availability. We're here to ensure that your procurement needs are met quickly and accurately, minimizing schedule impacts and return material authorizations. Request a quote today!