China Nickel Price to Fall Further to 80,000 yuan Next Week

SHANGHAI, Aug. 14 (SMM) – Spot nickel prices in China are expected to move lower to 80,000-82,000 yuan per tonne next week, SMM analyst predicts.

Continued production cuts of stainless steel mills will further dampen nickel demand. That plus poor economic data from China which indicate continued slowing in its economy, will further drag down China's nickel prices, SMM research team holds.

LME nickel may move at $10,000-10600 per tonne. 

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