The three-month nickel contract on the London Metal Exchange is averaging at $17,593 per tonne so far this month, compared with August’s average of $15,661 per tonne.
Buying interest was limited in the stainless steel market, however, with bearish factors such as rising inventory levels in China and thin profits for producers beginning to emerge
Stainless cold-rolled coil
Fastmarkets’ weekly export price assessment for stainless steel cold-rolled coil, 2mm grade 304, fob China was $2,010-2,070 per tonne on Wednesday September 25, up $20-30 per tonne from a week earlier.
Chinese stainless CRC was heard offered at $2,040-2,100 per tonne fob over the week. This...