Nickel Futures to Remain Range-Bound Next Week, SMM Foresees

Published: May 27, 2016 19:56

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LME nickel is expected to fluctuate between $8,250-8,650 yuan per tonne next week, SMM predicts.

SHANGHAI, May 27 (SMM) – LME nickel is expected to fluctuate between $8,250-8,650 yuan per tonne next week, SMM predicts. September nickel on the SHFE will move in 66,000-68,500 yuan per tonne range.

Falling nickel ore inventories at China’s ports will lend support to nickel. At the same time, supplies from stainless steel plants will decrease, also a positive factor for nickel, SMM says.

However,the strong US dollar and anti-dumping measures will remain a drag on prices, SMM added.

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SHFE nickel prices LME nickel prices

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