The May nickel contract on the SHFE stood at 102,860 yuan ($16,191) per tonne as of 10.00 am Shanghai time, up by 1,990 yuan, or 2%, from the previous session’s close of 100,870 yuan per tonne.
Demand from the stainless steel sector remains strong, with world stainless steel melting production increasing 7.4% year on year in January-September 2017, the latest figures from the International Stainless Steel Forum (ISSF) show.
“Demand from Chinese steel mills, however, is expected to slow over the short-to-medium term because cost constraints will be exacerbated by environmental-related and Lunar New Year capacity...
