SMM Nickel Price Forecast (May 14-18) -Shanghai Metals Market

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SMM Nickel Price Forecast (May 14-18)

SMM Insight 11:07:27AM May 15, 2012 Source:SMM

Shanghai, May 14 (SMM) - On Friday, the average spot nickel price was RMB 129,410/mt, down RMB 706.7/mt from a week ago. Jinchuan Group cut nickel prices on Wednesday by RMB 3,000/mt, to RMB 130,000/mt, but this price cut did not significantly affect spot prices. Quotes inched down as LME nickel prices fell, but overall transactions remained quiet.

LME nickel prices should continue to fall this week, and domestic spot nickel prices should track LME nickel prices next week, fluctuating between RMB 126,000-135,000/mt.
 

Key Words:  nickel Ni   LME nickel prices  

Price

more
62% Fe Fines (Qingdao Port): IOPI62
Sep.19
759.0
-24.0
(-3.07%)
62% Fe Fines (Qingdao Port, CFR Equiv.)
Sep.19
99.4
-3.3
(-3.18%)
58% Fe Fines (Qingdao Port): IOPI58
Sep.19
700.0
-13.0
(-1.82%)
58% Fe Fines (Qingdao Port, CFR Equiv.)
Sep.19
92.4
-1.8
(-1.90%)
65% Fe Fines (Qingdao Port): IOPI65
Sep.19
814.0
-20.0
(-2.40%)

SMM Nickel Price Forecast (May 14-18)

SMM Insight 11:07:27AM May 15, 2012 Source:SMM

Shanghai, May 14 (SMM) - On Friday, the average spot nickel price was RMB 129,410/mt, down RMB 706.7/mt from a week ago. Jinchuan Group cut nickel prices on Wednesday by RMB 3,000/mt, to RMB 130,000/mt, but this price cut did not significantly affect spot prices. Quotes inched down as LME nickel prices fell, but overall transactions remained quiet.

LME nickel prices should continue to fall this week, and domestic spot nickel prices should track LME nickel prices next week, fluctuating between RMB 126,000-135,000/mt.
 

Key Words:  nickel Ni   LME nickel prices