SHANGHAI, Aug. 25 (SMM) – On Friday, trading picked up in China’s domestic nickel spot market as nickel fell back slightly from highs, Shanghai Metals Market learns.
One Stainless Steel Mill Buys High-grade NPI after Nickel Price Decline
The price gap between Jinchuan and Russian nickel narrowed to 300-400 yuan per tonne, and some traders opted to buy Jinchuan nickel and sell Russian nickel. Jinchuan Nickel traded at premiums of 400 yuan per tonne, and deals were mainly contributed by electroplating and alloy plants, especially electroplating plants. Russian nickel traded at premiums of 0 yuan per tonne.
China Stainless Steel Mills Increase Using of Primary Nickel, SMM Learns
Small and medium mills purchased goods at lows. In the morning business, deals were mainly made between 92,200-92,600 yuan per tonne.
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