Home / Metal News / Nickel Price to Keep Fluctuating, SMM Expects

Nickel Price to Keep Fluctuating, SMM Expects

iconDec 9, 2016 20:20
Source:SMM
As of 15:00 Friday, LME nickel was $11,370 per tonne, down 0.96 per cent on a weekly basis.

SHANGHAI, Dec. 9 (SMM) - As of 15:00 Friday, LME nickel was $11,370 per tonne, down 0.96 per cent on a weekly basis. SHFE 1705 nickel closed Friday’s mid trading at 95,150 yuan per tonne, up 2.94 per cent week-on-week.

“In the nickel market, investors will wait for the final list of closure from the Philippines, which has been postponed to December 15, in addition to US Federal Reserve’s last interest rate meeting to be held in the coming week,” SMM says.

LME nickel advanced on December 2’s night trading after the secretary of the Department of Environment and Natural Resources (DENR) said to publish closure list of nickel mines soon.

China Nickel Ore Inventories Keep Falling, SMM Reports

Moreover, nickel ore inventories at China’s major ports kept falling, which pushed up nickel ore prices.  

In the coming week, SMM expects LME nickel to trade at $11,100-11,600 per tonne.  

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

nickel prices
nickel price
LME nickel price
nickel price forecast

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news