Nickel demand in China increases following lower prices
As Chinese stainless steel and plating plants are running at higher capacity and increasing their purchases of low cost nickel, demand for the product is steadily increasing. According to market sources, following drops in global nickel prices, China's largest nickel producer, Jinchuan Nonferrous Metals reduced its prices by Yuan 4'000 ($483) to Yuan 125'000 ($15'102) per ton. Chinese traders stated that due to increased production in the last month, stainless steel producers' demand for nickel has increased drastically. In addition, as they increased production for exports, nickel demand from plating plants also rose. Market sources reported that even though the domestic market is tight, the low nickel prices are discouraging buyers from importing spot nickel. China currently imports approximately 40% of its nickel needs from the international market.Nickel demand in China increases following lower prices
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2 - 6 mm
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1,000 - 1,500 mm
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2,000 - 6,000 mm
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