The London Metal Exchange three-month daily official nickel price
was $11,505-11,510 per tonne on Wednesday March 18, down by $975 per tonne or 7.8% from $12,480-12,485 per tonne a week earlier.
Fastmarkets’ weekly price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China
in the country’s major market of Wuxi was 12,300-13,300 yuan ($1,749-1,892) per tonne including value-added tax on Wednesday, down by 300 yuan per tonne from 12,600-13,600 yuan per tonne a week earlier
Downstream sectors in China still have not fully ramped up after operating at reduced rates for the past two months, market sources said.
In the January and February period, China’s production of several major downstream stainless products decreased sharply from a year earlier.