Nickel prices rose this week after Philippine President Rodrigo Duterte
ordered the closure of mining operations on Tumbagaan Island in Languyan, in the province of Tawi-Tawi.
The
three-month nickel contract on the London Metal Exchange ended Wednesday’s official trading session at $17,731 per tonne, up by $514 per tonne from Monday’s $17,217 per tonne.
Domestic
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 14,600-15,300 yuan ($2,258-2,366) per tonne, up by 200-300 yuan per tonne from
a week earlier.
Apart from a strengthening nickel market, steady end-user demand also supported prices for stainless steel products.
Demand for downstream Chinese products in both the domestic and export markets has been strengthening since the second quarter of...
