Shanghai Nickel Prices to Fall (2015-12-29)

Published: Dec 29, 2015 09:50

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The market will lack solid macroeconomic news today. Falling Shanghai Composite Index will drag down base metals prices.

SHANGHAI, Dec. 29 (SMM) – The market will lack solid macroeconomic news today. Falling Shanghai Composite Index will drag down base metals prices. When combined with yuan’s devaluation expectations, LME nickel should fall.

See forecast for other base metals, please click:Strong Dollar to Pressure the Light Trading Market, SMM Says

SHFE 1605 nickel prices are expected to inch down to RMB 67,500-68,800/mt today. Downstream buyers will purchase at lows, and Shanghai spot nickel should fall to RMB 66,000-68,500/mt.

Key Macroeconomic Indicators for Base Metal Prices (2015-12-29)

LME nickel prices SHFE 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.

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