Macquarie Bank in a report said that the Chinese government closed part of nickel plant, in order to control pollution, which means refined nickel demand will increase.
Macquarie Bank said it would lead China to reduce nickel output of 1,900 tons, equivalent to 35% of China's nickel production output.
According to Dow Jones in New York March 4 news, German commercial banks (Commerzbank) said in a report, China's nickel producers may be cut, which will reduce the offer to the global market, in return, it will push up the year nickel prices. Therefore, the price of stainless steel sheets and plates will increase.
"Because the market expectation for nickel price was increasing due to the Indonesian nickel ore export ban, but international nickel market ample supply is a surprise to the whole market. The ample supply of Nickel will drag down the LME Nickel price, and most Chinese Ni producer suffer from loss, therefore, most producers start to reduce production.
Shanghai Yieh United Corporation has started to increase stock in case the increasing of Ni price, which may affect the supply of stainless steel sheets to our customers.
Shanghai Yieh United polished stainless steel sheet and brushed stainless steel sheet will keep the same fabrication fee. According to our system, LME Nickel price will have a 500~800 USD change. Therefore, if customers need prepare for stainless steel material in advance, it is time to incease the stock.