LME Nickel to Trade Lower This Week, SMM Predicts

Published: Nov 6, 2015 17:11

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LME nickel prices are expected to trade lower this coming week, Shanghai Metals Market foresees.

SHANGHAI, Nov. 6 (SMM) – LME nickel prices are expected to trade lower this coming week, Shanghai Metals Market foresees.

“A strong bearish sentiment is now prevailing the nickel market, and LME nickel is expected to lurch lower to trade at $9,550-9,900 per tonne,” SMM nickel analyst foresees.

On the SHFE nickel market, prices will gradually stabilize due to possible profit-taking by shorts, however, SMM notes, expecting price to range between 74,000-76,000 yuan per tonne.

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