The demand from the world's stainless steel industry is still weak and this weighs on the nickel market but the funds' buying and the supply concern is lending support to the market. Nickel price moves rangebound in August and may extend the movement into next month. The European stainless steel producers lower their selling price this month after they cut production. over the past few months. The producers are expecting the end users of stainless steel to return to market after the weak consuming season in summer.
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