This has been a year of crisis for the nickel market.

The domestic demand forecast was cautiously optimistic, according to market sources, led by stronger increased spending for the infrastructure market.

In November alone, production of finished steel reached over 1.82 million tonnes.

In the week ending on December 31, 2022, US domestic raw steel production was 1,602,000 net tons while the capability utilization rate was 71.8 percent.

Europe may continue to dominate US thermal coal exports in 2023 but demand for high-sulfur coal may wane.

Finished Import Market Share YTD at 24%

"Pretty much everyone accepts the current level [of premiums] is the new reality", a trader said.

US hot rolled coil (HRC) spot prices moved down as the market remained quiet due to the Christmas holiday.