Rising Nickel Price Grows Cautious Buying Interest

SHANGHAI, Oct. 10 (SMM) – Trading sentiment in China’s domestic nickel market was moderate, with SHFE nickel fluctuating. After continuous price increases, stainless steel mills turned wary of purchases, and only a small amount of downstream producers entered the market for purchases due to low inventories.

Output Cut News Supports High-grade NPI Price

In the morning business, premiums of Jinchuan nickel were at around 1,200 yuan per tonne, and 200-250 yuan per tonne for Russian nickel, with mainstream traded prices between 87,700-88,700 yuan per tonne.

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