What’re Major Influential Factors in Short-Term Nickel Market? SMM Reports

Published: Aug 25, 2017 15:57

Save

After a recent surge, what’re major influential factors in the nickel market in the short term? Market players are advised to eye on following factors for a clear direction.

SHANGHAI, Aug. 25 (SMM) – After a recent surge, what’re major influential factors in the nickel market in the short term? Market players are advised to eye on following factors for a clear direction.

What’re Driving Factors for Recent Gain in Nickel Market? SMM Reports

First, the impact on stainless steel scrap supply from VAT issue on secondary resources.

Second, stainless steel inventories

Third, Philippines’ final assessment on mining firms. The country’s new environment secretary Roy Cimatu said the final assessment on mining companies, which had been ordered to be suspended and cancelled by former secretary Gina Lopez in an intensified government environment crackdowns, will be released soon. The drafts will be finished by end of August, he said.

SMM foresees that LME nickel will fall back after hitting $11,825 per tonne, but will find support at $11,000 per tonne, and will likely challenge 2016’s peak in September.

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

nickel price LME nickel price nickel price forecast

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

10 hours ago

[SMM Analysis] EU “Melt and Pour” Rules Take Effect: What Will Change for Stainless Steel Exports to Europe?

The European Union has formally clarified the documentary requirements for identifying the “melt and pour country” of imported steel products. From October 1, 2026, importers will be required to declare and substantiate where the original steel was first melted and poured, generally through a Mill Test Certificate containing the melt and pour country and heat number.

10 hours ago

[SMM Analysis] Chinese Buyer's Purchase Willingness Strengthened, Changes in South Korea's Nickel Sulphate Export Market Were Worth Noting.

Since August, the SMM battery-grade nickel sulphate CIF China price generally remained around $3,700/wmt, while after entering the late month, Chinese buyers' purchase inquiries for South Korean nickel sulphate increased significantly, and their purchasing initiative strengthened. However, this change did not yet translate into a clear recovery in ternary downstream demand. Whether the market could continue to improve in the future still depended on whether relevant inquiries could be converted into actual transactions, and whether there was a substantial rebound in the production of precursors and cathode materials in China and South Korea.

10 hours ago

11 hours ago

[SMM Analysis] Chinese Buying Interest Strengthens, Drawing Attention to Shifts in Korea’s Nickel Sulphate Export Market

SMM’s Battery-grade Nickel Sulphate, CIF China price remained broadly stable around $3,700/wmt in August, while Chinese buying inquiries for Korean material became more active toward month-end. However, stronger procurement has yet to translate into a clear recovery in ternary downstream demand, leaving the sustainability of the improvement dependent on actual precursor and cathode production growth.

11 hours ago