East Asian stainless steel prices soften amid bearish outlook for nickel market

Import prices for stainless steel in East Asia fell slightly over the past week with buyers taking a wait-and-see approach amid expectations that nickel prices would fall further, market sources said.

Despite floods in Indonesia that could result in potential supply disruptions, the outlook for nickel remains negative due to sustained trade tensions between China and the United States. Indonesia produced 551,000 tonnes of nickel units last year, which was approximately 25% of global supply. The country's nickel output is expected to account for 40% of global supply in four years, Macquarie consultant Jim Lennon said last week at the International Nickel Conference in Amsterdam. The three-month nickel contract on the London Metal Exchange ended...

Published

Lee Ken Kiat

June 13, 2019

06:40 GMT

Singapore