Rising nickel price expected to lead increase of stainless steel purchase
Views : 216
Update time : 2020-06-10 15:19:57
On the 8th of June, the nickel price continued soaring and realized a growth of nearly US$100/ton. As a result, now the nickel price returned to the US$13,000 level, which was the highest price in the past 3 months.
Besides, the monitoring of LME also reflected that the market nickel stock has now declined to about 232,000 tons. In fact, since the beginning of June, the market stock of nickel has declined by 1,068 tons totally.
Generally speaking, affected by several macro-factors, nickel price remained an uptrend, which meant that possibly, there would be more stainless steel purchases in the Taiwanese market.
Shanghai Metals Market repeats witness on aluminium and alumina prices going opposite directions
Aluminium prices rise across the board on SMM, defying previous week’s declining trend
