28.06.2022
LME nickel price rebounded on June 27 due to the reviving economy in China
LME nickel futures rebounded yesterday (June 27), closing up by US$482 at US$22,882/ton. The spot price also rose by US$486.5 to US$22,846/ton.
Meanwhile, LME nickel inventories continued to decline, dropping by 360 tons to 66,936 tons, bringing the cumulative decrease for this month to 4,782 tons.
According to market participants, alongside declining LME nickel inventories, there are signs of economic recovery in China, which drove a strong rebound in nickel prices.
However, demand in the Chinese stainless steel market remains weak, so short-term nickel prices are expected to remain subject to macroeconomic factors.
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