SMM Nickel Weekly Price Review and Forecast (Feb. 9-13, 2015)

Feb 10, 2015 10:22

Source:SMM

In China’s spot markets, SMM price for #1 refined nickel averaged RMB 108,990/mt last week, up RMB 2,200/mt on a weekly basis.

SHANGHAI, Feb. 10 (SMM) – In China’s spot markets, SMM price for #1 refined nickel averaged RMB 108,990/mt last week, up RMB 2,200/mt on a weekly basis. Transactions for spot nickel continued to decline due to weak demand. Jinchuan Group raised prices by RMB 500/mt through four times of price adjustments, to RMB 108,500/mt.

Nickel supply in China’s spot markets exceeded demand due to the influx of imported nickel and low buying interest among downstream producers. However, spot prices are likely to move at RMB 106,500-110,000/mt with support from the level-out of LME nickel and crude oil.

China 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 (Feb. 9-13, 2015)

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