What’s Price Outlook for Nickel Market for Rest of June? SMM Reports

Published: Jun 15, 2017 10:50

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What’s the nickel price outlook for the rest of June? Will the market go further in the downward track or have the chance of rallying?

SHANGHAI, Jun. 15 (SMM) – It is now middle of June, and nickel ore market shows no improvement over the past two weeks of the month. What’s the nickel price outlook for the rest of June? Will the market go further in the downward track or have the chance of rallying?

Will Indonesia Replace China as Top NPI Producer? SMM Reports

The answer will disappoint you all. So far, no positive sign is available in nickel market fundamentals.

On the raw material front, it is now a peak sales period of nickel ore in the Philippines, meaning that ore shipments from the country will be rising, which will weigh down nickel ore market. And falling prices of raw materials may provide room for Chinese nickel smelters, which are now running at low utilization rates, to increase production, negative to nickel prices.

Medium and High-grade Nickel Ore Remain in Downward Pressure in June, SMM Says

In the downstream market, high supply and poor demand are expected to leave stainless steel prices in the downward track in mid and late June, despite that price declines may be small.

Considering all, nickel market will remain in downward territory for the rest of June, with LME nickel to trade at $8,700-9,300 per tonne.

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nickel prices nickel ore prices china nickel ore inventories

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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