LME Nickel to See Small Downward Room, SMM Expects

SHANGHAI, Dec. 7 (SMM) – LME nickel is expected to trade at lows this week, and with small downward room, Shanghai Metals Market foresees.  

“Nickel prices are believed to have hit bottoms, so any downward room for nickel prices will be limited,” SMM nickel analyst says. 

However, pressure from a stronger dollar should also be cautioned, SMM notes. 

SMM expects LME nickel to trade between $8,500-9,100 per tonne, and on the SHFE market, prices for 1601 nickel contracts will range 66,500-71,000 yuan per tonne this week. 

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