SHANGHAI, Mar. 29 (SMM) – Medium and large Chinese stainless steel mills have increased purchases of nickel plate recently in the Shanghai market, according to survey by Shanghai Metals Market.
Entering mid-late March, medium and large domestic stainless steel mills reported the growth in orders, while supply of high-grade NPI was tight, increasing demand for refined nickel in the Shanghai market, SMM survey found.
Growing buying interest has also sent up Shanghai nickel prices, and on Mar. 29, Jinchuan nickel is 500-600 yuan higher than the most actively-traded contract in Wuxi, and Russian nickel is at premiums of 0-100 over the same contract, according to SMM data.
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