LME nickel dive pushes down China's stainless steel prices

October 25, 2019 / www.metalbulletin.com / Article Link

Declining nickel prices on the London Metal Exchange put China's stainless steel market under pressure over the past week.

The three-month nickel contract on the exchange ended Wednesday October 24's trading session at $16,420-16,425 per tonne, down $510-515 per tonne from a week earlier.The contract price is also $2,030-2,050 per tonne lower compared with September 2's five-year high of $18,450-18,475 per tonne.The most-traded December nickel contract on the Shanghai Futures Exchange closed at 129,970 yuan ($18,370) per tonne on Wednesday, down 2,530 yuan per tonne from a week earlier. Nickel pig iron prices have also fallen amid the weakening nickel market.Fastmarkets' weekly price assessment for nickel pig iron, high-grade NPI content 10-15%, spot, ddp China was 1,190-1,220 yuan per nickel unit last Friday, down 50-60 yuan per nickel unit week on week. DomesticFastmarkets' weekly price...

Recent News

Bank of Japan boosts rates, continuing an unwinding carry trade

December 22, 2025 / www.canadianminingreport.com

Gold stocks outperform equity market slide

December 22, 2025 / www.canadianminingreport.com

Silver inventories rebound in UK, output from major producers rises

December 15, 2025 / www.canadianminingreport.com

Silver's three-month outperformance continues

December 15, 2025 / www.canadianminingreport.com

Silver & Copper Supply Distortions Continue

December 08, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok