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Home / Metal News / Price Gap of Jinchuan and Russian Nickel Expands with Demand Weakening

Price Gap of Jinchuan and Russian Nickel Expands with Demand Weakening

Jun 18, 2014 13:55

Source:SMM

The price gap of Jinchuan and Russian nickel will expand to range between 1,000-1,300 yuan ($162-211) per tonne due to weak consumption, Shanghai Metals Market foresees.

SHANGHAI, Jun. 18 (SMM) – The price gap of Jinchuan and Russian nickel will expand to range between 1,000-1,300 yuan ($162-211) per tonne due to weak consumption, Shanghai Metals Market foresees.

The selloff of nickel stocked by some domestic NPI producers, resulting from tight liquidity, has also reduced the attractiveness of Russian nickel, SMM learnt, in addition to the fallback in LME nickel.

The gap between the two briefly narrowed from 1,000 yuan per tonne in mid April to 300 yuan per tonne. This was a result of stockpiling activities in April and May, and a 40% surge of LME nickel prices from early year to mid May. The preference to Russian nickel in #200 and #300 stainless steel production did also help narrow the gap.

Jinchuan nickel

Russian nickel

Jinchuan and Russian nickel price gap

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