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

Published: Jun 15, 2017 10:50

Save

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.

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

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

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

Related News

45 mins ago

[SMM Nickel Flash News] 7.9-Magnitude Earthquake Strikes Philippines with Limited Impact on Key Nickel Mining Districts

A 7.9-magnitude earthquake struck off the southern coast of the Philippines’ Mindanao island on Monday morning (June 8th), triggering regional tsunami warnings but causing only limited, localized disruptions to nickel operations. SMM’s communication with local miners indicates that while one operator within the directly affected southern zone has temporarily suspended cargo loading bound for Indonesia due to the tsunami warning, the major producing hubs in the Surigao and others report no current impact, with production and shipping maintaining normal operations.

45 mins ago

1 hour ago

【SMM Flash】ADNOC Hikes June Sulphur OSP to $860/t FOB Ruwais, an All-Time High

SMM understands that Abu Dhabi National Oil Company (ADNOC) has raised its June 2026 official selling price (OSP) for sulphur to $860/t FOB Ruwais for the Indian subcontinent market, up by $100/t from May. This marks the highest OSP on record, surpassing the previous peak seen in Q2 2008. The extreme supply tightness in the Middle East, driven by ongoing geopolitical disruptions, continues to underpin the bullish market sentiment. Other Middle East suppliers‘ June contract prices: QatarEnergy at $805/t FOB; Kuwait KPC at $805/t FOB.

1 hour ago

Hanrui Cobalt Invests in Ganzhou Nickel Project, Aiming 40,000 mt Annual Output

[Hanrui Cobalt Announces Investment in Annual Output of 40,000 mt Electrodeposited Nickel and 40,000 mt (Metal Content) Battery-Grade Nickel Sulphate Project] Hanrui Cobalt announced that to further meet the company's business development needs and promote the implementation of its strategic planning, Nanjing Hanrui Cobalt Co., Ltd. (hereinafter referred to as the "Company") plans to invest in and construct the "Annual Output of 40,000 mt Electrodeposited Nickel and 40,000 mt (Metal Content) Battery-Grade Nickel Sulphate Project" in Ganzhou City, Jiangxi Province, through its wholly-owned subsidiary Ganzhou Hanrui New Energy Technology Co., Ltd. (hereinafter referred to as "Ganzhou Hanrui"). The total investment of the project is 2,002.5278 million yuan, with funds sourced from the Company's own capital or self-raised funds.

1 hour ago