METALS-Nickel get boost from Chinese steel market gains | Reuters

Reuters| Mon Dec 04 01:43:50 EST 2017
* LME/ShFE arb: bit.ly/2wZSAEz (Adds analyst comments, updates prices, changes dateline from MELBOURNE) By Eric Onstad LONDON, Dec 4 (Reuters) - Nickel gained on Monday as the metal mainly used in stainless steel got a boost after Chinese steel futures touched three-month highs. Steel and iron ore contracts in Shanghai surged on Monday as government-ordered steel production cutbacks to reduce pollution led to tighter supplies for some mill products. The stronger prices might not last long, however, because eventually the steel production cutbacks during the peak Chinese smog season in the winter would mean less need for nickel, said Caroline Bain, chief commodities economist at Capital Econo..

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