Industry News

SHFE nickel price hits new high due to tight supply

Views : 128
Update time : 2023-09-06 16:57:25
As of 10:50 Taipei time on September 4, the nickel price on the Shanghai Futures Exchange (SHFE) settled at CNY 171,400/ton, rising by 3.4%. The futures hit the highest at CNY 173,770/ton in intraday sessions.

Indonesia, the largest nickel exporter of China, has recently delayed the mining quota distribution, which caused nickel prices to rise. Besides, due to stronger seasonal demand, the supply of Indonesia has tightened. Coupled with the expected high demand from the stainless steel industry and market sentiment boosted by good transactions, the SHFE nickel price hit a new high in nearly four months.
Related News
Read More >>
What Tariffs, Steel Prices Mean for E&S Construction Insurance in California What Tariffs, Steel Prices Mean for E&S Construction Insurance in California
Apr .25.2025
What Tariffs, Steel Prices Mean for E&S Construction Insurance in California
Nickel Price Update: Q1 2025 in Review Nickel Price Update: Q1 2025 in Review
Apr .25.2025
Nickel Price Update: Q1 2025 in Review
Higher steel prices benefiting Region steel mills Higher steel prices benefiting Region steel mills
Apr .25.2025
Higher steel prices benefiting Region steel mills
Vale's net profit drops 17% on lower iron ore prices Vale's net profit drops 17% on lower iron ore prices
Apr .25.2025
Vale's net profit drops 17% on lower iron ore prices