The three-month nickel contract on the London Metal Exchange has averaged $17,560 per tonne so far in October, compared with August’s average of $15,661 per tonne.
Market participants in China were on vacation from October 1-7 to mark the 70th anniversary of the People's Republic of China.
The surge in the LME nickel price resulted from Indonesia's announcement of a ban on nickel ore exports in September.
Stainless cold-rolled coil
Fastmarkets’ weekly export price assessment for stainless steel cold-rolled coil, 2mm grade 304, fob China, was $2,030-2,080...