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

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. 

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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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