SMM Nickel Weekly Price Review and Forecast (17-21 Jun. 2013)-Shanghai Metals Market

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SMM Nickel Weekly Price Review and Forecast (17-21 Jun. 2013)

Price Review & Forecast 03:37:50PM Jun 17, 2013 Source:SMM
SHANGHAI, Jun. 17 (SMM) – The average price of #1 nickel during the week ending June 14 was RMB 101,850/mt, down RMB 4,050/mt. As LME nickel market tumbled during the Chinese Dragon Boat Festival, spot prices in the Shanghai nickel market dropped after resuming trading. There were only two trading weeks last week, and some downstream producers made some purchasing after the holiday, but falling LME nickel prices depressed downstream buying interest. Hence, overall trading was thin. 
 

SMM Nickel Weekly Price Review and Forecast (17-21 Jun. 2013)

Price Review & Forecast 03:37:50PM Jun 17, 2013 Source:SMM
SHANGHAI, Jun. 17 (SMM) – The average price of #1 nickel during the week ending June 14 was RMB 101,850/mt, down RMB 4,050/mt. As LME nickel market tumbled during the Chinese Dragon Boat Festival, spot prices in the Shanghai nickel market dropped after resuming trading. There were only two trading weeks last week, and some downstream producers made some purchasing after the holiday, but falling LME nickel prices depressed downstream buying interest. Hence, overall trading was thin.