Throughout January, LME nickel futures and spot prices remained steady at US$16,266/ton.
In response to supply constraints and limited inventory, Indonesia's Tsingshan has incrementally raised prices. Concurrently, numerous steel mills are planning maintenance activities in February.
It is understood that both the offers and transaction prices from mills are currently at the lowest levels. Consequently, there is a possibility that mills may refrain from lowering prices in February. Instead, it is anticipated that mills might aim to sustain or potentially increase prices to counterbalance the costs of raw materials.
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