SteelOrbis Shanghai
On July 8, Gansu Jinchuan Group Ltd., Asia's largest nickel producer, decreased its ex-works price for electrolytic nickel by RMB 14,000/mt to RMB 171,000/mt. Jinchuan Group has several times decreased its ex-works price for nickel in recent times.
As all major stainless steel mills in China and Japan have cut production or continually reduced their outputs of 300 series stainless steel, instead producing 200 and 400 series stainless steels which have a lower nickel content, demand for nickel in the region has become weaker.