What We’ve Been Up To

March 5 2021 Nickel Update

Hello All,

It was a crazy week for nickel & trucking.  Nickel peaked during the 3rd week of February at $8.84/lb.  As of today it is down to $7.67/lb.  Below please find the main drivers:

  • Base Metals lower as supply fears ease.  LME inventories had large inflows.
  • Major producer Norilsk Nickel announced plans to stabilize water inflows at one of its biggest mines in the Russian Artic by March 9th.
  • Tsingshan Holding Group announced they have discovered a new way to make nickel for batteries Nickel prices plunging 7.4% on the prospect of breaking a crucial production bottleneck in EVs.
  • March surcharge was based on a $8.26/lb. average.  If nickel stays in the $7.67/lb. range there will be some relief but not a substantial amount.  Also chrome is still strong.  Please see below:

Surcharge estimate for April:

  • As of today surcharges still show a slight increase for April.  If nickel stays in the current range you will see that average come down to numbers closer to the February Surcharge.
  • Chrome is now adjusted on a quarter basis.  Chrome has remained strong so we are estimating a .03/lb. to .05/lb. increase for the Chrome component.


  • This continues to be a major obstacle.  Flat bed rates are almost double.
  • Common carriers are limiting volumes because of the influx of orders as people shift away from flat beds.
  • Terminals are overbooked causing delays.
  • Please plan on extra time and cost until things return to normal. 


Stay Busy in 2021! 

Jay Mandel

President & CEO

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