LME Nickel to Fall below $9,000/t after Latest Philippine News, SMM Foresees

SMM Insight 03:28PM Jul 07, 2017 Source:SMM

SHANGHAI, Jul. 7 (SMM) – Following Indonesia’s approval for third company for nickel ore exports, the Philippines announced another piece of negative news to the market.   

Philippine New Environment Minister Removes Restriction on Environmental Permits

The Philippines' new environment minister announced to revoke a restriction on issuing environmental permits to projects, including mine exploration and development, Reuters reported. 

What’s impact on nickel price after this latest news?  

Indonesia Adds One New Company onto Nickel Ore Export List

"LME nickel will lose support at the 20 and 40-day moving average in the wake of the news, and may fall below $9,000 per tonne,” SMM nickel analyst foresees. 

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

LME Nickel to Fall below $9,000/t after Latest Philippine News, SMM Foresees

SMM Insight 03:28PM Jul 07, 2017 Source:SMM

SHANGHAI, Jul. 7 (SMM) – Following Indonesia’s approval for third company for nickel ore exports, the Philippines announced another piece of negative news to the market.   

Philippine New Environment Minister Removes Restriction on Environmental Permits

The Philippines' new environment minister announced to revoke a restriction on issuing environmental permits to projects, including mine exploration and development, Reuters reported. 

What’s impact on nickel price after this latest news?  

Indonesia Adds One New Company onto Nickel Ore Export List

"LME nickel will lose support at the 20 and 40-day moving average in the wake of the news, and may fall below $9,000 per tonne,” SMM nickel analyst foresees. 

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