SMM Nickel Weekly Price Review and Forecast (Dec. 1-5, 2014)

SHANGHAI, Dec. 1 (SMM) – The average price of SMM #1 refined nickel gained RMB 3,710/mt to RMB 111,950/mt last week. Russian nickel remained in shortage, allowing it to trade only RMB 100-200/mt below Jinchuan nickel. Traders seldom bought Russian nickel, while downstream producers in general bought as needed. Jinchuan Group adjusted nickel prices five times to close the week up RMB 100/mt at RMB 111,500/mt.

 

This coming week, downstream producers in China’s spot nickel market will source as needed, and nickel prices are expected between RMB 110,000-113,000/mt.