Nickel Market Is Open But Frozen as Traders Await Further Drops

Still, that implies further significant falls. On Friday, nickel for April delivery in Shanghai traded at about $ 34,500 a ton. Excluding the 13% value added tax that is charged on metal within China, that translates to about $ 30,500 on an LME-equivalent basis. And contracts for later delivery were trading still lower, with June futures below $ 30,000 on the same basis.

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