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

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

SMM Insight 07:56:23PM May 27, 2016 Source:SMM

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. 

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


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

SMM Insight 07:56:23PM May 27, 2016 Source:SMM

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. 

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