Nickel futures on the London Metal Exchange and the Shanghai Futures Exchange picked up in the first couple of days this week after falling sharply, but they failed to push up spot prices for stainless steel due to soft demand, sources said.
The three-month nickel contract on the LME
ended the official trading session at $13,935-13,940 per tonne on Tuesday January 7, up $130-145 per tonne from $13,790-13,810 per tonne last Friday January 3.
The most-traded March nickel contract on the SHFE closed Tuesday’s trading session at 109,390 yuan ($15,750) per tonne, up 1,590 yuan per tonne from last Friday.
Fastmarkets’ weekly price...