🔍 Market Insights: Steel & Nickel Pricing Trends – April 2025 & May Outlook As we navigate through April 2025, the steel and nickel markets are exhibiting notable dynamics influenced by global trade

🏗️ Steel Market Overview

• Demand Trends: India's steel demand is projected to grow by 8-9% in 2025, driven by increased construction activities in housing and infrastructure sectors. ​

• Import Impact: Finished steel imports surged by 24.5% in 2024, adding pressure on domestic prices. ​

• Policy Measures: The Indian government is considering doubling the basic Customs duty on imported finished steel products to 15% to protect domestic manufacturers. ​

⚙️ Nickel Market Overview

• Current Prices: Nickel is trading around $15,565 per metric ton as of early 2025. ​

• Forecast: Analysts project nickel prices to stabilize and gradually improve, with forecasts ranging from $16,000 to $18,500 per ton by the end of 2025. ​

• Market Dynamics: Indonesia's dominance in nickel production, particularly for electric vehicle batteries, continues to influence global supply and pricing. ​

📊 Snapshot

Nickel Prices (USD/ton):

• Jan 2024: $17,000

• Apr 2024: $16,500

• Jul 2024: $16,000

• Oct 2024: $15,800

• Jan 2025: $15,565

🔮 Outlook for May 2025

• Steel: Prices are expected to remain under pressure due to high imports and global price trends. However, the proposed increase in import duties could provide some relief to domestic producers.​

• Nickel: Prices are anticipated to stabilize, with potential for gradual increases driven by demand from the stainless steel and electric vehicle sectors.​