WorldScrap- LME nickel slumped $600 and ended at $14,400 yesterday, although the warehouse stocks reduced 24 tons to 108,084 tons. As for the spot market, quotations from Changjiang and Shanghai tumbled 1,000RMB and 1,500RMB respectively. In domestic scrap market, stainless steel slipped down 100RMB/T, dragged down by falling price of nickel. The trade was dimmed and most of suppliers watched and waited in the sideline, expecting for a rise in the later market. The supply was sufficient and mills made purchases on demand.

information from WorldScrap.com