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

Published: Aug 25, 2017 15:57

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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.

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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.

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