LME nickel price rebounded on June 15 due to better industrial performance in China
LME nickel futures closed up by US$598 at US$25,857/ton yesterday (June 15). The spot price also rose by US$601 to US$25,759/ton.
Meanwhile, LME nickel inventories decreased by 504 tons to 69,552 tons, bringing the cumulative decline for this month to 1,566 tons.
China's National Bureau of Statistics announced yesterday that the value added of industrial enterprises above designated size increased by 0.7% year-on-year in May, compared to a 2.9% decline in April. In the first five months, the total value added of industrial enterprises above designated size grew by 3.3% year-on-year.
Due to these factors, nickel prices stopped dropping yesterday and rebounded significantly. In addition, prices of base metals such as zinc, aluminum, and tin also halted their decline and rose.
Diğer Haberler
- Taiwan's stainless steel prices are expected to remain flat for September.
- Outlook on potential challenges facing China's stainless steel industry.
- TISCO successfully produces and exports stainless steel strips for South American coins.
- Taiwan looks forward to a recovery in stainless steel demand and prices in the fourth quarter.
- China's 300-series stainless steel production is expected to recover in August.
- Stainless steel inventories in China’s trading centers fell last week.
- Turkey’s stainless steel coil imports increased in the first half of the year.
- Stainless steel market expected to recover due to nickel price rebound.
- STSS’s Stainless Steel Precision Foil standard will be implemented in February 2023.
- STSS’s Stainless Steel Precision Foil standard will be implemented in February 2023.
- Outokumpu’s stainless steel deliveries declined in the second quarter.
- Nornickel raised its nickel surplus forecast for 2022 and 2023.
- Taiwan’s E United Group aims to merge Tang Eng Iron Works
- China’s crude stainless steel production declined in the first half of the year.
- Rebound in nickel prices may support steel prices in the short term
- Germany's Klöckner & Co acquired two stainless steel-related companies
- Turkey’s stainless steel imports increased in May.
- US maintains AD order on Chinese stainless steel sheet and strip
- European stainless steel market demand is expected to rebound in September
- India has been importing large quantities of stainless steel from China in recent years
- European stainless steel market slowed supply down on weak demand
- LME nickel price rebounded on June 27 due to the reviving economy in China
- Global crude stainless steel production fell by 3.8% in the first quarter
- LME nickel price rose for 2 consecutive days with lower inventory
- LME nickel price rebounded on June 15 due to better industrial performance in China
- Brazil expands AD investigation on cold-rolled stainless steel sheets from Indonesia
- Jindal Lifestyle's new facility in India to meet the demand for Vande Bharat trains