SHANGHAI, May 20 (SMM) – On Friday’s noon, LME nickel traded at $8,610 per tonne, down 0.29% on a weekly basis.
“Nickel market is now surrounded by bearish sentiment, and price declines are expected to be continuing this coming week,” SMM nickel analyst says.
Last week, the surging dollar weighed down nickel and other base metals prices, and downstream demand waned as big price falls turned them wary of purchases.
SMM expects LME nickel to trade at $8,400-8,700 per tonne this coming week.
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