UBM - Stainless Price Rises Offer A Hint Of Support For Nickel
By Stuart Burns
Nickel prices have seen support in recent months more from supply-side concerns.
Initially, support came from bringing forward of Indonesia's raw material export ban, More recently, support came from concerns the coronavirus pandemic would shut down mines in the Philippines and Indonesia, in addition to disruption of shipping to top consumer China.
But a recent Reuters article reports prices for stainless steel have risen in China due to strong demand as the economy gets back on its feet after lockdown.
Exports are still weak, but demand across the domestic economy