SMM Nickel Weekly Price Review and Forecast (Jun. 9-13, 2014)

Jun 10, 2014 09:36

SMM expects LME nickel to range between USD 18,700-19,100/mt this coming week. In China’s domestic spot markets this week, nickel prices are expected to trade in the RMB 130,000-135,000/mt range.

SHANGHAI, Jun. 10 (SMM) – Last week, the average price of SMM #1 refined nickel was RMB 133,837.5/mt, down RMB 1,722.5/mt from a week ago and with traded prices ranging between RMB 132,600-135,500/mt.Jinchuan Group adjusted ex-works prices a total of three times over this past week to finally close at RMB 134,000, down RMB 5,000/mt. Spot trading was light, and prices on the Wuxi electronic trading market fluctuated in a narrow range, with a few hedge trades made. Traders generally kept prices firm, leaving few low-priced goods available. Some NPI producers were heard to plan to sell previously-stocked nickel plate due to tight liquidity after being forced to cut output since Indonesia’s export ban on unprocessed ores.

SMM expects LME nickel to range between USD 18,700-19,100/mt this coming week. In China’s domestic spot markets this coming week, nickel prices are expected to trade in the RMB 130,000-135,000/mt range.

SMM Weekly Review and Forecast

China nickel price forecast

LME nickel prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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SMM Nickel Weekly Price Review and Forecast (Jun. 9-13, 2014)

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