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Home / Metal News / Nickel Price Advances Following Production Cut News

Nickel Price Advances Following Production Cut News

Oct 9, 2017 13:25

Source:SMM

SHANGHAI, Oct. 9 (SMM) – SHFE 1801 nickel opened higher on the first trading day after the week-long holiday in China following output cut news in Shandong.

Jinchuan Group Raises Nickel Price 1,500 yuan on Oct. 9

The news that nickel producers in Shandong’s Linyi will be required to cut output by 50 per cent in winter months fueled the rise.

On Monday, some downstream producers, including one large alloy producer in Hebei, entered the market for purchases, with moderate trading sentiment heard.

Vale Expects Indonesian Nickel Ore Exports to Jump from Low In 2018

Jinchuan nickel was at premiums of 1,400 yuan per tonne, and Russian nickel at premiums of 300-350 yuan per tonne, and traded prices were mainly between 86,300-87,900 yuan per tonne.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

nickel price

Jinchuan nickel

Russian nickel

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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For more information on how to access our research reports, please email service.en@smm.cn

Nickel futures prices rose significantly last week and then fell to around 140,000 yuan/mt on February 26, and the spot transactions rebounded. Currently, the downstream industries of refined nickel have fully resumed work, and the orders from alloy casting enterprises are relatively stable as they had restocked before CNY and maintained production in holiday.

Mar 2, 2021 13:52

SMM Insight Analysis

Spot quotations stood high amid low inventories, downstream demand likely to rebound due to work resumption

Nickel trading quiet in Shanghai on higher futures

Russian nickel was trading at a discount of 300 yuan/mt against the Wuxi Stainless Steel Exchange 1802 contract on Friday February 2 whereas Jinchuan nickel was flat, SMM learned.

Feb 2, 2018 13:46

SMM Comments

Nickel trading quiet in Shanghai on higher futures

Rising Nickel Price Grows Cautious Buying Interest

Trading sentiment in China’s domestic nickel market was moderate, with SHFE nickel fluctuating.

Oct 10, 2017 13:35

Industry

Rising Nickel Price Grows Cautious Buying Interest

Premiums for Russian Nickel in Bonded Area Rise Rapidly

With the opening of profitable import window for several days, premiums for Russian nickel in bonded area rose rapidly.

Sep 28, 2017 13:43

SMM Insight

Premiums for Russian Nickel in Bonded Area Rise Rapidly

Nickel Purchases Grow for Upcoming One-Week Holiday

On Tuesday, Jinchuan nickel was offered at premiums of RMB 800/mt over Wuxi’s 1710 nickel, and Russian nickel at premiums of RMB 250-300/mt over the same contract.

Sep 19, 2017 14:08

Industry

Nickel Purchases Grow for Upcoming One-Week Holiday

Nickel Price Hovering at Highs Raises Strong Caution

Nickel price hovered at highs on Friday, and market caution ruled market trading sentiment, with small purchases by alloy and electroplating plants, Shanghai Metals Market learns.

Sep 8, 2017 14:11

SMM Insight

Nickel Price Hovering at Highs Raises Strong Caution

Jinchuan Nickel Gets Popular on Small Gap over Russian Nickel

On Tuesday, downstream producers were not active in purchases despite price fallback from highs. Some traders chose to sell Russian nickel and buy Jinchuan nickel due to a smaller gap.

Sep 5, 2017 15:12

Industry Reminder

Premiums of Russian Nickel Edge Higher, SMM Reports

Premiums of imported Russian nickel traded higher slightly last week due to limited resources, Shanghai Metals Market learns.

Sep 4, 2017 13:25

SMM Insight

Premiums of Russian Nickel Edge Higher, SMM Reports

Price Spread between Jinchuan and Russian Nickel Narrows, SMM Reports

On Friday, trading picked up in China’s domestic nickel spot market as nickel fell back slightly from highs, Shanghai Metals Market learns.

Aug 25, 2017 13:52

Industry Reminder

Price Spread between Jinchuan and Russian Nickel Narrows, SMM Reports

Rapid Price Rises Grow Cautious Buying Attitude in Nickel Market, SMM Reports

On Thursday’s morning business, premiums of Jinchuan nickel were down sharply after sharp gains in overnight trading.

Aug 17, 2017 13:30

Industry Reminder

Rapid Price Rises Grow Cautious Buying Attitude in Nickel Market, SMM Reports

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Nickel Price Advances Following Production Cut News

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