Nickel Prices to Run under Pressure from Weak Supply and Demand_SMM

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Home / Metal News / Nickel / Nickel Prices to Run under Pressure from Weak Supply and Demand

Nickel Prices to Run under Pressure from Weak Supply and Demand

Mar 15, 2023 09:29

CST

Source:SMM

On the supply side, nickel prices rebounded slightly yesterday.

SHANGHAI, Mar 15 (SMM) - On the supply side, nickel prices rebounded slightly yesterday. The spot premiums stabilised, and intraday spot transactions were poor. Traders and some NPI plants undercut their prices due to the high inventory and the slack market. On the demand side, according to SMM research, the spot quotations of stainless steel and the stainless steel mills’ guidance prices varied greatly. Alloy companies mainly purchased on demand amid the poor orders. To sum up, the pure nickel sector faces weak supply and demand, weighing on nickel prices.

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In the spot market, Jinchuan nickel was quoted at premiums of 6,500-7,000 yuan/mt as of September 14, averaging at 6,750 yuan/mt, which was down 1,150 yuan/mt from the previous trading day.

Sep 14, 2022 11:26 timezone

CST

SMM Comments

Spot Prices of Pure Nickel Fell Slightly, with No Significant Improvement in Transactions

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As of September 9, the SMM Imported Copper Concentrate Index (weekly) stood at $81.96/mt, $2.71/mt higher than last week.

Sep 9, 2022 15:16 timezone

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SMM Comments

TCs of Spot Copper Concentrate Rose to Above $80/mt Affected by the Qinhuangdao Port Incident

Zinc in Tianjin: Transactions Were Modest as Downstream Enterprises Purchased on Dips

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Sep 8, 2022 14:10 timezone

CST

SMM Comments

Zinc in Tianjin: Transactions Were Modest as Downstream Enterprises Purchased on Dips

Pure Nickel Premiums Rebounded amid Supply Tightness, and Stainless Steel Mills Ramp up Purchases of NPI

For alloy, nickel plate inventory dropped significantly last week maid improving order book, but the demand weakened again amid rising premiums. To sum up, pure nickel supply tightened to some extent recently, offering support to nickel prices in the near term.

Sep 6, 2022 10:36 timezone

CST

SMM Insight

Pure Nickel Premiums Rebounded amid Supply Tightness, and Stainless Steel Mills Ramp up Purchases of NPI

SMM Evening Comments (Aug 29): Shanghai Nonferrous Metals Closed with Losses amid Extending Tight Monetary Policy Orientation

Shanghai nonferrous metals closed with losses as the market players were still weighing the hawkish speech from Fed Chair Powell last Friday, indicating that the tight monetary policy is needed for some time. And ECB management committee Kazaks also said the ECB should raise interest rates by at least 50 basis points in September.

Aug 29, 2022 18:00 timezone

CST

SMM Comments

SMM Evening Comments (Aug 29): Shanghai Nonferrous Metals Closed with Losses amid Extending Tight Monetary Policy Orientation

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Aug 26, 2022 10:53 timezone

CST

Industry News

Peruvian Ministry of Economy and Finance: Copper Prices to Fall to $3.40/lb in 2023

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On August 24, the average price of spot EMM in the main producing regions across China stood at 14,500-14,700 yuan/mt, up 100 yuan/mt from the previous trading day.

Aug 24, 2022 17:33 timezone

CST

SMM Comments

EMM Plants Held their Prices Firm Because of the High Bid Prices

China's Imports of Tin Concentrate in July Rose Sharply, and Myanmar Contributed the Most

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Aug 22, 2022 17:00 timezone

CST

SMM Insight

China's Imports of Tin Concentrate in July Rose Sharply, and Myanmar Contributed the Most

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As of last Friday, the DMC Prices stood at 20,800-21,000 yuan/mt, up 1,850 yuan/mt or 9.7%.

Aug 22, 2022 13:29 timezone

CST

SMM Comments

Due to the Huge Increase in Raw Material Prices, DMC Prices Rose 1,850 yuan/mt on the Week!

Spot Trading Remained Poor amid High Nickel Prices

On August 22, spot premiums of Jinchuan nickel were 5,300-5,500 yuan/mt. The average price stood at 5,400 /mt, down 350 yuan/mt from the previous trading day.

Aug 22, 2022 11:07 timezone

CST

SMM Comments

Spot Trading Remained Poor amid High Nickel Prices

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