Nickel Prices to Continue Rising (2017-9-4)

Published: Sep 4, 2017 09:41

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Beijing, Tianjin and Hebei began their 11 th round of environmental crackdowns on September 1.

SHANGHAI, Sep. 4 (SMM) –Beijing, Tianjin and Hebei began their 11 th round of environmental crackdowns on September 1. The first stage lasts from September 1 to November 9, and the second stage lasts from November 10 to March 29, 2018. NPI output in these three regions accounts for at least 10% of national total. As such, the move will affect nickel smelting in more regions. Stainless steel mills basically meet environmental requirements, so market is not very worried about impact on stainless steel production. Recent accidents at several steel plants boosted prices of rebar and hot-rolled coil, which will push stainless steel prices up as well.

Nickel prices will continue rising. SHFE 1801 nickel should range RMB 95,500-96,300/mt today. Spot nickel prices will be RMB 94,200-95,000/mt in domestic market.

Key Macroeconomic Indicators for Base Metal Prices (2017-9-4)

SHFE nickel prices nickel prices Ni price base metal 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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