LME Nickel to Drop Further This Week, SMM Predicts

Published: Nov 16, 2015 11:07

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LME nickel prices are expected to drop further this week amid a strong bearish sentiment, Shanghai Metals Market foresees.

SHANGHAI, Nov. 16 (SMM) – LME nickel prices are expected to drop further this week amid a strong bearish sentiment, Shanghai Metals Market foresees.

“Strong bearish sentiment and a strong dollar is expected to further weigh down the nickel market, and spot trading in China’s domestic market will also wane,” SMM nickel analyst says.

This week, LME nickel is expected to drift lower to $9,100-9,550 per tonne, SMM predicts.

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