SHANGHAI, Feb. 5 (SMM) – Chinese market will be closed this coming week for the 2016 Chinese New Year holiday, and LME nickel is expected to advance during the period, SMM foresees.
“LME lead underperformed others last week, but prices are expected to rise slightly during the week-long holiday in China,” SMM nickel analyst says.
During the first trading week after Chinese holiday, trading in China’s domestic spot market is not expected to improve significantly, SMM adds.
During the period from Feb. 8-19, LME nickel is expected to trade between $ 8,450-9,000 per tonne, SMM predicts.
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