Nickel inventories declined after transactions picked up, supporting nickel prices recently.
SHANGHAI, May 24 (SMM) - Nickel inventories declined after transactions picked up, supporting nickel prices recently. The quotations of NPI plants are still firm, and most of them have stopped quotations and took a wait-and-see stance. However, offers of Indonesian NPI fell due to abundant goods in hands of traders.
300-series stainless steel prices in the spot market saw only slight declines due to cost support and limited arrivals. Nickel supply is a little tight, but supply under long-term contract will flow into the market in early June.
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