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Home / Metal News / SMM Nickel Weekly Price Review and Forecast (Oct. 27-31, 2014)

SMM Nickel Weekly Price Review and Forecast (Oct. 27-31, 2014)

Oct 28, 2014 10:44

Source:SMM

In China’s spot nickel market, the average price for SMM #1 refined nickel tumbled RMB 6,070/mt on a weekly basis to RMB 104,330/mt last week.

SHANGHAI, Oct. 28 (SMM) – In China’s spot nickel market, the average price for SMM #1 refined nickel tumbled RMB 6,070/mt on a weekly basis to RMB 104,330/mt last week. Increased price volatility on the Wuxi electronic trading and Shanghai spot nickel market enticed traders to enter the market for arbitrage. Only a few downstream producers went bargain hunting. Jinchuan Group cut nickel prices three times by a total of RMB 3,200/mt to close the week at RMB 103,300/mt. Russian nickel traded RMB 100-200/mt below Jinchuan nickel.

This coming week, nickel prices in China’s spot market are expected to fall faster to RMB 102,000-106,500/mt.

China nickel prices

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