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China to See Low Nickel Demand after Three-day holidays, SMM Says

iconJan 4, 2016 10:12
Source:SMM
Investors are returning from holidays, but downstream demand is expected to remain weak, Shanghai Metals Market says.

SHANGHAI, Jan. 4 (SMM) – Investors are returning from holidays, but downstream demand is expected to remain weak, Shanghai Metals Market says. 

“Inventories of nickel plate in domestic market are on the rise, and with low demand,” SMM nickel analyst point outs.   

During the first trading week of 2016, LME nickel is expected to trade at $8,500-9,000 per tonne, and SHFE 1605 nickel will range between 68,000-72,000 yuan per tonne, SMM expects.  

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