Nickel Market to See Weak Trading in Shortened Trading Week, SMM Says

Published: Dec 28, 2015 09:56

Save

This week will be a shortened trading week for holidays, and nickel market will be weak, Shanghai Metals Market foresees.

SHANGHAI, Dec. 28 (SMM) – This week will be a shortened trading week for holidays, and nickel market will be weak, Shanghai Metals Market foresees.

“Downstream buying is poor, and supply, on the other hand, is sufficient in China’s domestic market, offering no price support,” SMM nickel analyst says.

Last week, the favorable Shanghai/LME nickel price ratio increased arrivals of imported nickel, growing market supply in China’s market.

SMM expects LME nickel to trade between $8,500-9,000 per tonne, and SHFE 1605 nickel will lurch lower to 68,000-70,000 yuan per tonne.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

ni prices nickel prices LME nickel prices forecast LME nickel prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn