LME Nickel to Trade at Lows Next Week, SMM Says

Published: Nov 27, 2015 17:41

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LME nickel prices are expected to fluctuate at lows this coming week, Shanghai Metals Market predicts.

SHANGHAI, Nov. 27 (SMM) – LME nickel prices are expected to fluctuate at lows this coming week, Shanghai Metals Market predicts.

“Poor market fundaments will weigh down the nickel market, though a series of news, such as production cuts and stock-piling by China’s reserve agency, drove up prices over this past week,” SMM nickel analyst explains.

This coming week, LME nickel is expected to trade between $8,600-9,300 per tonne, and 67,000-71,500 yuan per tonne for SHFE nickel, SMM expects.

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