SHANGHAI, May 27 (SMM) - This past week, LME nickel declined from $9,445 to $9,035 per tonne, and SHFE 1709 nickel dropped to 74,990 yuan after advancing to 78,580 yuan on May 23. What’s the price outlook in the coming week?
How Much Further Can Nickel Ore Fall? SMM Reports
At present, there is no big improvement in nickel market fundamentals, despite of the news that Philippines President declared martial law in Mindanao, one of major nickel ore producing regions in the country. LME market is expected to trade at $8,900-9,250 per tonne in the coming week.
SHFE Releases Risk Management Rules for Trading around 2017 Dragon Boat Festival
The SHFE market will close on May 29 and 30 for the 2017 Chinese Dragon Boat Festival which runs from May 28-30. SHFE nickel will look for price direction from LME nickel market after returning from the holiday, with prices expected at 74,500-76,600 yuan for the most-actively traded nickel contract.
For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.
![[SMM Nickel Sulphate Daily Review] March 11, Raw Material Uncertainty Persisted, and Nickel Salt Prices Remained Stable](https://imgqn.smm.cn/usercenter/NHXhQ20251217171733.jpg)
![[NPI Daily Review] Market Procurement and Sales Activity Recovered, and High-Grade NPI Prices Still Had Upside Room](https://imgqn.smm.cn/usercenter/UpZsx20251217171731.jpeg)
![[SMM Daily Review of Nickel Intermediate Products] On March 11, Nickel Prices for MHP and High-Grade Nickel Matte Rose](https://imgqn.smm.cn/usercenter/GmHLU20251217171733.jpg)
