LME Nickel to Trade at Lows, SMM Says

Published: Jan 8, 2016 18:19

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LME nickel prices are expected to remain under pressures this week, Shanghai Metals Market foresees.

SHANGHAI, Jan. 8 (SMM) – LME nickel prices are expected to remain under pressures this week, Shanghai Metals Market foresees.

“Market panic from China’s stock market affects nickel prices, and downstream buying in China’s spot market has improved after price tumbled, but overall sentiment remains bearish,” SMM nickel analyst says.

This week, LME nickel is expected to trade at $8,300-8,600 yuan per tonne, and prices for most actively-traded nickel contract on the SHFE will range between 67,000-69,000 yuan per tonne, SMM expects.

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