Nickel prices are finding a balance between strong expectations, high inventory, and weak reality, with high prices suppressing downstream purchasing power.

Domestic nickel prices (LME 60%) rose by RMB 15,000/ton (USD 2,148/ton) compared to last week, while domestic nickel pig iron quotations were RMB 292,500/ton (USD 37,588/ton). The market is showing strength due to the release of mining capacity in Myanmar.