News and Events

LME nickel prices surges by USD 800tonne:

It is reported that the nickel prices at LME surged by USD 800 per tonne on April 8th 2011. The weak purchase seems to become more active. In fact, the nickel prices at LME dropped by around USD 2,000 per tonne in the first half of April 2011; consequently, it has caused the stainless steel market became quiet.

It is known that China’s Taiyuan Iron & Steel Group and Baosteel had announced to cut the domestic prices by CNY 100 to CNY 300 per tonne averagely.

Analysts indicated that even the purchase has increased slightly due to the sharply rising nickel prices; it still needs some time to see whether the rebounded nickel prices could stimulate the market.