SHANGHAI, Sep 1 (SMM) - The composite PMI of the nickel wire and nickel mesh industry stood at 50.36 in August. Although nickel prices remained high in August, the demand of nickel mesh products was stable, hence the demand for Jinchuan nickel remained normal. However, it is worth noting that as some enterprises in Jiangsu province reduced the output due to the impact of high temperature and power rationing in August, the orders decreased. Therefore, the production index in August was 49.91. Meanwhile, due to the high nickel prices in August, raw material inventory declined, hence the raw material inventory index stood at 48.47. In September, the high temperature has dropped, and enterprises conduct normal production schedules. Therefore, the production index will recover and the composite PMI in September will be 50.85.

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