Home / Metal News / Nickel / Tsingshan Project to Support Nickel Price (2017-6-27)
Tsingshan Project to Support Nickel Price (2017-6-27)
Jun 27,2017 09:39CST
price review forecast
Source:SMM
US durable goods orders in May fell short of market expectations.

SHANGHAI, Jun. 27 (SMM) – US durable goods orders in May fell short of market expectations. The US dollar plunged but then rallied. Domestic stainless steel prices stopped rising. But the expected commissioning of Tsingshan’s stainless steel project in Indonesia will support nickel prices.

LME nickel will find support from USD 9,000/mt today, and SHFE 1709 nickel should hover between RMB 74,200-75,300/mt, with spot prices between RMB 73,500-76,100/mt. Profit at China’s large industrials in May will be eyed. 

nickel prices
LME nickel prices
SHFE nickel prices

For queries, please contact Frank LIU at liuxiaolei@smm.cn

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

Related news