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SMM Nickel Weekly Review and Forecast (8-12 Jul. 2013)
Jul 8,2013 16:37
CSTprice review forecast
Source:SMM
During the week from 8 – 12 July, LME nickel is expected to fluctuate within the USD 13,600-14,100/mt range and domestic nickel spot prices should move between RMB 96,500-98,500/mt.
SHANGHAI, Jul. 8 (SMM) – Domestic nickel spot trading in China was thin against the backdrop of weak LME nickel prices. In the Shanghai nickel spot market, the average price of #1 nickel was RMB 97,470/mt, up RMB 600/mt from a week earlier. The price gap between Russian and Jinchuan nickel stabilized last week at RMB 1,000/mt, and with ample market supply reported. Trading during the second half of the week fell off as prices lost upward momentum.
During the week from 8 – 12 July, LME nickel is expected to fluctuate within the USD 13,600-14,100/mt range and domestic nickel spot prices should move between RMB 96,500-98,500/mt.
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LME nickel market
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SMM Nickel Weekly Review and Forecast
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