LME Nickel to Trade at $10,200-10,600 per tonne, SMM Predicts

Oct 14, 2016 18:20

Source:SMM

This past week is the first trading week after China’s National Day holiday from Oct. 1-7.

SHANGHAI, Oct. 14 (SMM) – This past week is the first trading week after China’s National Day holiday from Oct. 1-7.

Over this past week, LME nickel rose all the way in early week but then fell back, and SHFE 1701 nickel rallied after a decline in early week.

In the coming week, LME nickel is expected to trade at $10,200-10,600 per tonne, and 80,000-83,000 yuan per tonne for SHFE 1701, SMM predicts.

Nickel ore inventories at China’s major ports were down sharply from the pre-holiday level, according to SMM data.

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LME Nickel to Trade at $10,200-10,600 per tonne, SMM Predicts

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