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SMM Nickel Weekly Price Review and Forecast (May. 4-8, 2015)
May 5,2015 10:18CST
price review forecast
Source:SMM
SHFE nickel prices outperformed LME nickel, and posted sharp rises to touch RMB 104,530/mt, the highest since the launch of SHFE nickel trading.

SHANGHAI, May 5 (SMM) – SHFE nickel prices outperformed LME nickel, and posted sharp rises to touch RMB 104,530/mt, the highest since the launch of SHFE nickel trading. Trading volumes surged 545,000 lots to 1.18 million lots as of last Thursday morning, and positions increased 6,556 to 120,000.

SMM #1 nickel prices averaged RMB 99,088/mt last week, up RMB 5,138/mt. The number of imported nickel entered China’s spot market declined with the Shanghai/LME nickel price ratio down, and availability of Jinchuan nickel remained limited. Spot trades improved some. Jinchuan Group’s price offers increased RMB 6,300/mt to RMB 101,300/mt following two price adjustments.

SMM expects China’s spot nickel prices to rise slightly this week to RMB 102,000-105,000/mt on limited inflow of imported goods and tight supply of Jinchuan nickel.

 

SHFE nickel prices

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