Nickel price trend on November 20th

The domestic spot alloy price in China remained steady.

The domestic spot alloy price in China remained steady.

China has eliminated more than 150 million tonnes of steel capacity over the past three years as part of its environmental crackdown and supply-side reforms.

Daily output in October fell by 4.7% on the month to 2.63 million mt/day, which annualized at 959.83 million mt.

The top 20 positions increased and decreased varied, the purchase volume is less than the holding position.

Stronger than expected floor space starts in China in October indicates demand for steel from the property construction sector could be stronger than anticipted in early 2020.

Nickel price trend on November 19th