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SMM Nickel Weekly Review and Forecast (18-22 Nov. 2013)
Nov 18,2013 15:30CST
price review forecast
Source:SMM
LME nickel prices are expected to fluctuate in the USD 13,700-14,000/mt range this week. In China’s spot nickel market, buying interest is expected to improve.

SHANGHAI, Nov. 18 (SMM) - In the Shanghai nickel spot market, #1 nickel averaged RMB 96,100/mt, down RMB 1,700/mt from a week earlier. Traded prices for Jinchuan nickel were between RMB 96,000-97,800/mt, creating a price gap with Russian nickel of RMB 1,000/mt. Trading was quiet last week due to low buying interest and trader reluctance to sell after prices rallied.   

 
LME nickel prices are expected to fluctuate in the USD 13,700-14,000/mt range this week. In China’s spot nickel market, buying interest is expected to improve. Prices for Jinchuan nickel are expected between RMB 97,000-98,500/mt, with the price gap between Jinchuan and Russian nickel moving around RMB 1,000/mt.  
 
LME nickel prices
China’s spot nickel market

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