Shanghai Metal Market: Shanghai Nickel Rises, Market Performance Not Good

Today, Shanghai nickel is fluctuating and moving upward. Spot prices are only slightly changed in tandem. At present, overall market activity is still weak: traders have limited stock to sell, and some are not quoting frequently. Most end-users maintain procurement mainly to meet just-in-time needs, and some purchase directly from manufacturers. In the short term, downstream consumption is still in a relatively recovering phase, with limited actual order demand, and procurement sentiment is being held back. Today, Jinchuan manufacturers, following the market’s movement, have slightly raised their ex-factory prices by 100 yuan/ton compared with the day before. (SHMET)

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