China nickel: Metal, NPI prices rise, sulphate falls

摘要

Chinese nickel metal prices increased slightly today in response to higher spot demand from downstream sectors, particularly stainless steel, this week. Prices for nickel pig iron (NPI) also rose on tighter spot supply. But sulphate prices slipped on lower bids from consumers looking to reduce their production costs. Argus assessed the range for 99.9pc grade nickel metal at 121,500-125,500 yuan/t ($18,711-19,327/t) ex-warehouse today, up from Yn121,000-124,500/t ex-warehouse a week ago. Spot demand from the stainless steel sector increased slightly this week and stock-holding firms raised their offer prices for imported metal to around Yn124,500-125,000/t and for domestically produced material to Yn120,000-125,500/t.