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 for 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

1 min ago

[SMM Nickel Flash] Vale: Mechanical Construction of the HPAL Pomalaa Nickel Smelter Has Been Completed

[Vale: Mechanical Construction of the HPAL Pomalaa Nickel Smelter Has Been Completed] Budiawansyah, Chief Sustainability and Corporate Affairs Officer of PT Vale Indonesia (INCO), said on August 13 that the physical and mechanical construction of the HPAL (high-pressure acid leach, hydrometallurgical) smelter located in the Pomalaa block, Pomalaa District, Kolaka Regency, Southeast Sulawesi Province, has been completed (one production line has reached 100% mechanical completion) and has entered the trial operation stage. The project is being developed by PT Kolaka Nickel Indonesia (KNI), with partners Zhejiang Huayou Cobalt (Huayou) and Ford Motor Company (Ford). PT Vale Indonesia Tbk plans to commence production of the project in Pomalaa in Q3 2026, with a target capacity of 120,000 mt Ni of MHP.

1 min ago

11 mins ago

Market Sentiment Weakens for High-Grade NPI, Downstream Purchases Sluggish Amid Cooling Interest

[SMM Nickel Flash] News on August 17: The current market sentiment for high-grade NPI is relatively weak. Many market participants, facing a downward market trend, have chosen to wait and see and have stopped offering quotes. Downstream steel mills’ purchase willingness remains sluggish, with some enterprises directly suspending related procurement activities, and market buying interest has clearly cooled.

11 mins ago

28 mins ago

SMM Nickel Flash: High-Grade NPI Sentiment Index Drops, Spot Market Cools in August

[SMM Nickel Flash] On August 17, the SMM high-grade NPI market sentiment index was 1.91, down 0.02 MoM; the high-grade NPI upstream sentiment index was 2.06, flat MoM; and the high-grade NPI downstream sentiment index was 1.76, down 0.04 MoM. Trading in the high-grade NPI spot market further cooled.

28 mins ago