Ni price rebound on expectation that stainless steel producers rebuild stocks

摘要

Chinese nickel price keeps pace with the LME nickel and rallied strong in January due to market expectation that stainless steel producers will rebuild nickel stocks for production in the second quarter this year. But the fundamentals for nickel have not been significantly improved yet in China and also other parts of the world. Jinchuan Group Limited(JNMC)'s refined nickel production has returned to normal level. In recent two months, price ratio of Chinese nickel to the LME has dropped to a relatively low level as the rise in the JNMC's nickel selling price is much less than the increase in imported nickel price. JNMC expects the lower price can help to take more shares on domestic nickel market.