China’s manufacturing purchasing managers’ index was 51.1 points for July, up by 0.2 points from June, according to the NBS. This is the fifth month that the index has been above 50%, which indicates growth in the sector.
Nickel gains provided additional support to stainless steel prices.
The three-month nickel contract on the London Metal Exchange
ended Wednesday August 5’s official trading session at $14,287 per tonne, up by $478 per tonne from $13,809 per tonne on July 29.
Fastmarkets’ weekly price assessment for nickel pig iron, high-grade NPI content 10-15%,...