Will Rising Momentum in Nickel Market Continue after Two-day Gains? SMM Interview

SHANGHAI, Apr. 16 (SMM) – The July contract in Shanghai Futures Exchange ended up 1.52% at 95,400 yuan per tonne on Apr. 16. 

Will the rising momentum in nickel’s market continue after two-day’s gains? 

“Position reduction by shorts is a major reason behind recent price rallies, and nickel prices will keep rising,” an analyst from Everbrignt Futures told SMM in a recent interview. 

But, overall market largely remains pessimistic, and this will cap the rising room of nickel, the analyst added. 

An analyst from Galaxy Futures also echoed the view, saying nickel prices will also get a boost from strike news. 

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.