SHANGHAI, Jun. 9 (SMM) – Nickel prices are now leading gains both on the LME and SHFE markets. Will the rising trend continue for a longer time?
“Lack of capital is not expected to support bigger rises in base metals market,” said SMM’s macro-economy analyst.
Capital is now flooding in China’s A-share market which has soared above 5,000.
This, coupled with expectations over a strong dollar, will put a cap on the price rally, but nickel may be an exception one, he added.
Nickel now becomes the most actively-traded metal on the SHFE since its launch of futures trading in late March.
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