Nickel Prices Poised to Rise This Coming Week, SMM Predicts

Published: Apr 15, 2016 19:14

Save

Last week, LME nickel strengthened with positive news, but failed to climb above USD 9,000/mt.

SHANGHAI, Apr. 15 (SMM) – Last week, LME nickel strengthened with positive news, but failed to climb above $9,000 per tonne.

“This coming week, nickel market is expected to keep rising, but investors should be wary of rapid price gains,” SMM nickel analyst foresees.

Last week, news of nickel stocking by China’s State Reserve Bureau drove up SHFE nickel, in addition to positive data out of China.

Is Nickel Stocking News True? What Impact on Nickel Prices? SMM Reports

This coming week, firm prices of NPI and nickel ore are expected to continue to boost market sentiment, SMM adds.

SMM expects LME nickel to trade at $8,600-9,100 yuan per tonne this coming week.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

nickel price LME nickel prices SHFE nickel prices nickel price forecast

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn