Nickel Prices Tumble after UK Leave Result, SMM Says

SHANGHAI, Jun. 24 (SMM) – Early week, LME nickel fluctuated at above all moving averages, briefly reaching $9,315 per tonne, but tumbled with UK’s referendum result. 

“The UK referendum shocked global financial market, also including nickel market, and this coming week, LME nickel is expected to trade at $ 8,800-9,100 per tonne,” SMM nickel analyst says. 

In the nickel market, some other stories should be also watched, and one of them is ore supply from the Philippines, and will this become a support factor after UK vote? Let’s follow up what will happen next.  

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