LME Nickel to Point Higher This Coming Week

Published: Apr 29, 2016 18:23

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As of Friday noon, LME nickel traded at $9,290 per tonne, and briefly reached up to $ 9,310 per tonne over the week. Will nickel price continue rising?

SHANGHAI, Apr. 29 (SMM) – As of Friday noon, LME nickel traded at $9,290 per tonne, and briefly reached up to $ 9,310 per tonne over the week. Will nickel price continue rising?

“LME nickel is expected to extend gains this coming week, and to point to $9,500 per tonne,” SMM nickel analyst estimates.

Nickel Rising Momentum Wanes, SMM Says

Continuous gains in NPI and stainless steel markets will continue to support nickel market, and improvement in market fundamentals has also boosted market sentiment, SMM notes.

“But, caution on price fallback should be taken after LME nickel reaching $9,500,” SMM adds.

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