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SMM Nickel Weekly Price Review and Forecast (3-7, Jun. 2013)
Jun 3,2013 17:29CST
price review forecast
Source:SMM
Nickel market fundamentals are weak, so nickel prices will remain soft.
SHANGHAI, Jun. 3 (SMM) - Last Tuesday, Jinchuan Group cut ex-works prices for refined nickel to RMB 104,500/mt (large panel), and RMB 105,700/mt (small in barrel), a drop of RMB 2,000/mt and mainly for long-term contracts. In the Shanghai nickel spot market, #1 nickel averaged RMB 104,540/mt, down RMB 650/mt from a week earlier. Facing tight liquidity at the month’s end, downstream producers showed little buying interest, and with a lack of arbitrage trading due to only small price changes, trading among traders was also anemic. 
 
Nickel market fundamentals are weak, so nickel prices will remain soft. 
 
SMM Nickel Weekly Price Review and Forecast
Shanghai nickel spot market

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