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Nickel Futures to Remain Range-Bound Next Week, SMM Foresees
May 27, 2016 19:56Source:SMM
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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