Chinese return to LME pricing amid resilient nickel feedstock market

Chinese nickel raw material buyers are shifting back to a pricing mechanism based on the London Metal Exchange futures contract that they had previously resisted, after the supply of the nickel feedstock fell short of demand, Fastmarkets has learned.

Confidence in the LME was shaken after nickel prices on the exchange skyrocketed above $100,000 per tonne in one day in March 2022. This led users, particularly in China, to...