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SMM Nickel Weekly Price Review and Forecast (Jun. 9-13, 2014)
Jun 10,2014 09:36CST
price review forecast
Source:SMM
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

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