1 August 2024 – Asian nickel futures rose again today, Thursday. Nickel prices on the Chinese spot markets are also continuing their rise. And a first interest rate cut by the US Federal Reserve is approaching and is expected in September.
After significant price increases in nickel futures on the SHFE commodity exchange on Wednesday, as well as in spot market prices, prices rose again today, Thursday. The SHFE nickel contracts ni2408 and ni2409 rose by more than 1.7%. Nickel prices on the Chinese spot markets, which had already started to rise on 26 July 2024, rose by up to 0.85% today. Overall, prices here rose by more than USD 1,000/mt in some cases.
Chinese stainless steel prices for cold-rolled coil rose by up to 1.05% today, depending on the grade. Prices for stainless steel scrap rose by around 1%.
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