Review of Nickel Pig Iron Trading Day on April 13

SMM4, 13 March:

The price of SMM high nickel pig iron was quoted today at 870-890 yuan / nickel point (including factory tax), up 7.5 yuan / nickel point from the previous trading day. With the rise in nickel prices and the breaking of the deadlock in the nickel-iron market last week, major steel mills purchased one after another, and the purchase prices showed an upward trend compared with the previous transaction prices. On Friday, the purchase price of high nickel pig iron in a stainless steel plant in East China broke through the 900 mark to 910 yuan / nickel point (including factory tax), and stainless steel prices also rebounded this week. It is expected that the price of high nickel pig iron may continue to pick up slightly this week, but the room for increase is limited. The expected operating range is 885-900 yuan / nickel point (including factory tax).