SHANGHAI, Sep. 4 (SMM) –Beijing, Tianjin and Hebei began their 11 th round of environmental crackdowns on September 1. The first stage lasts from September 1 to November 9, and the second stage lasts from November 10 to March 29, 2018. NPI output in these three regions accounts for at least 10% of national total. As such, the move will affect nickel smelting in more regions. Stainless steel mills basically meet environmental requirements, so market is not very worried about impact on stainless steel production. Recent accidents at several steel plants boosted prices of rebar and hot-rolled coil, which will push stainless steel prices up as well.
Nickel prices will continue rising. SHFE 1801 nickel should range RMB 95,500-96,300/mt today. Spot nickel prices will be RMB 94,200-95,000/mt in domestic market.
Key Macroeconomic Indicators for Base Metal Prices (2017-9-4)
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