Market update for OSTP Group Customers:
LME Halts Nickel Trading After Unprecedented 250% Spike.
At open point overnight trading broke the 100,000 $/T level before falling back slightly to 81,000 $/T
Clearly markets remain in extreme turmoil and many Raw material / Tube and Butt Weld Fittings manufacturers have already announced a temporary stop to any further current offerings until more visibility is possible.
As announced yesterday OSTP Group has withdrawn all earlier issued offers and all price lists effective from COB 7-3-22.
However to best support our customers we will continue to offer on a daily basis against received customer enquiries valid against order strictly by 15.00 EET the same day and short term only for materials with confirmed delivery Ex-Mill within March.
It is only proper in our opinion to continue to advise customers not to panic but to engage in dialogue with us through your normal contact routes so we can together navigate these times with least negative impact to all parties and maintain as best as possible needed material supplies.
Our intention is to maintain regular news updates on our website for your information and guidance.