LME Nickel to Trade at $10,550-11,200/t, SMM Predicts

Published: Aug 14, 2017 10:23

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As of Aug. 11, LME nickel finished the week up 3.24 per cent on a weekly basis, and SHFE 1801 nickel registered a week-on-week growth at 1.91%.

SHANGHAI, Aug. 14 (SMM) – As of Aug. 11, LME nickel finished the week up 3.24 per cent on a weekly basis, and SHFE 1801 nickel registered a week-on-week growth at 1.91%.

Last week, LME nickel remained in upward track, climbing to $10,990 per tonne briefly on August 10, while SHFE 1801 nickel underperformed LME nickel.

China Sees Big Increases in Total Nickel Ore Port Inventories, SMM Reports

What’s price outlook this week?

LME nickel is expected to trade at $10,550-11,200 per tonne this week, citing positive macro-economic environment and rising downstream demand.

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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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