China nickel: Lower demand pressures metal, NPI

摘要

Nickel metal prices fell this week because of softening demand from downstream sectors, while nickel pig iron prices came under pressure from lower demand from the stainless steel industry. Prices for domestically-produced nickel sulphate were unchanged this week amid steady supply and demand fundamentals. Argus assessed the range for 99.9pc grade nickel metal at 121,500-123,500 yuan/t ($18,590-18,896/t) ex-warehouse today, down by Yn3,000/t from a week ago. Large producers reduced their offer prices to Yn123,000-123,500/t to attract sales, while spot demand remained limited. Imported metal was offered at around Yn122,500/t.