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Home / Metal News / LME Nickel Set for Gains (2016-3-8)

LME Nickel Set for Gains (2016-3-8)

Mar 8, 2016 10:08

Source:SMM

LME nickel should challenge USD 9,500/mt during Asian trading hours Tuesday after recording a 7-day win streak.

SHANGHAI, Mar. 8 (SMM) – LME nickel should challenge USD 9,500/mt during Asian trading hours Tuesday after recording a 7-day win streak.

Iron ore and rebar future contracts hit by daily upside limit on Monday, boding well for nickel prices. SHFE 1605 nickel will range RMB 73,000-74,500/mt on Mar. 8 and spot nickel will quote at RMB 72,200-73,200/mt.

Key Macroeconomic Indicators for Base Metal Prices (2016-3-8)

LME nickel prices

ni prices

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

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Jinchuan Group cut its ex-works prices 1,700 yuan per tonne on Aug. 25.

Aug 25, 2016 16:41

Reminder

Jinchuan Group Raises Nickel Price by 1,500 yuan on June 30, up for 3 Days

Jinchuan Group raised its ex-works prices 1,500 yuan per tonne on Jun. 30.

Jun 30, 2016 14:43

Reminder

No Gains in Sight for Nickel Prices, SMM Says

As of Friday noon, LME nickel traded at $8,450 per tonne, up 1.75% on a weekly basis, while during the same period, SHFE 1605 nickel was off 0.18% to 66,290 yuan per tonne.

Apr 8, 2016 17:47

Industry

Shanghai Spot Nickel Prices to Climb (2016-2-22)

LME nickel is expected to maintain upward momentum on news that the Philippines will reduce nickel ore supply.

Feb 22, 2016 09:52

SMM Comments

Shanghai Spot Nickel Prices to Remain Firm (2016-2-19)

China’s credit loans surged, and gold posted sharp gains. Saudi Arab will not cut crude oil output.

Feb 19, 2016 09:28

SMM Comments

Shanghai Spot Nickel Prices to Stabilize (2016-2-4)

Crude oil prices rebounded on output cut expectations. The US dollar index plunged. LME nickel is expected to remain range-bound today.

Feb 4, 2016 10:46

SMM Comments

Jinchuan Group Ups Nickel Prices 600 yuan on Jan. 19

Jinchuan Group raised its ex-works prices by 600 yuan per tonne on Jan. 19.

Jan 20, 2016 09:33

Reminder

Shanghai Spot Nickel Prices to Rise (2016-1-15)

Risk appetite improved after negative news was absorbed.

Jan 15, 2016 10:13

SMM Comments

SHFE Nickel to Fall on Wait-and-See Posture (2015-12-17)

The US dollar rose after Fed interest rate increase, and LME nickel saw shorts closing positions.

Dec 17, 2015 10:01

SMM Comments

Will Production Cuts by Chinese Nickel Producers Lift Price? SMM Reports

China’s major nickel producers agreed an initial plan to cut output by 100,000 tonnes in 2016 during the meeting last Friday, according to SMM sources.

Nov 30, 2015 11:40

Industry

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LME Nickel Set for Gains (2016-3-8)

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