SHANGHAI, Sept. 14 (SMM) – Base metals prices mostly fell today after the release of Chinese economic indicators most of which were downbeat, SMM reported.
As of 2:02 pm, SHFE 1801 nickel slumped 4.3%, and SHFE copper continued falling by 1.6%.
Nickel price will face downward risk and fall to $11,000 per tonne in September, SMM predicts.
Steel scrap purchases by stainless steel plants are expected to return to normal in mid-to-late September. Meanwhile, stainless steel shipments by Tsingshan Group from Indonesia back to China will constrain gains in China’s stainless steel prices, SMM explained.
For news cooperation, please contact us by email: firstname.lastname@example.org or email@example.com.