LME Nickel to Fluctuate (2016-12-13)

Published: Dec 13, 2016 09:43

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LME nickel will fluctuate above USD 11,200/mt on Tuesday and SHFE 1705 nickel is predicted to move above the 20-day moving average at RMB 94,200-96,200/mt.

SHANGHAI, Dec. 13 (SMM) – Although steel mills demand reduced for nickel, soaring stainless steel will support nickel prices. LME nickel will fluctuate above USD 11,200/mt on Tuesday and SHFE 1705 nickel is predicted to move above the 20-day moving average at RMB 94,200-96,200/mt.

In China’s domestic market, spot tin should trade at RMB 92,400-94,700/mt on Tuesday.

SHFE nickel LME nickel nickel prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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