SHANGHAI, Sept. 22 (SMM) – Nickel prices in China’s domestic market are expected to rally during Q4, Simon Bao, Deputy Marketing General Manager of Jinchuan Group, was quoted as saying.
“Current macro-front and nickel fundamentals give no support to nickel prices, but domestic nickel market will stage a slight rally in Q4,” Bao said at the Hydrogen Storage Material Meeting hosted by the Association of China Rare Earth Industry.
The nickel market is now in the destocking process, and the surplus is estimated to ease, or turn into a shortage in the coming two years, Bao said at the meeting.
“A rising trend will be not established until LME nickel holds firm at $ 13,500 per tonne,” Bao predicts.
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