Nickel uptrend continues to raise China’s stainless steel export prices

Stainless steel prices in East Asia have shown an uptick over the past week on continued strength in the price of nickel on the London Metal Exchange, although limited demand prevented a sharper increase, market sources said on Wednesday September 11.

The LME nickel price rallied by 23% last month after Indonesia announced that it would bring forward a ban on nickel ore exports, which will now begin in January 2020. The price of nickel, 3 months, LME Daily Official, has averaged $17,862.14 per tonne so far in September, compared with $15,660.95 per tonne in August. Stainless cold-rolled coil Fastmarkets’ weekly price assessment for stainless steel cold-rolled coil, 2mm, grade 304, export, fob China, was $2,020-2,070 per tonne...

Published

Lee Ken Kiat

September 11, 2019

14:40 GMT

Singapore