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Home / Metal News / SMM Analysis: Why LME Nickel Slumped Last Night?

SMM Analysis: Why LME Nickel Slumped Last Night?

Nov 28, 2017 08:31

Source:SMM

Last night LME Nickel slumped nearly 4%, leading loss among base metals.

SHANGHAI, Nov.28 (SMM)－Last night LME Nickel slumped nearly 4%, leading loss among base metals. SMM thinks this is mainly caused by weak demand of stainless steel enterprises. Some of them have been in loss status. The market expects the reduction of stainless steel output, which has been fermented by news that one plant in South China will reduce or switch capacity in December, causing drop in nickel price from downstream to upstream.

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The Lisbon-based International Nickel Study Group (INSG) released data on Monday March 21, showing that in January 2022, the global nickel market was oversupplied by 6,000 mt, while there was a supply shortage of 5,300 mt in the same period last year.

Mar 22, 2022 11:37

Analysis

INSG：Global Nickel Market was Oversupplied by 6,000 mt In January 2022

Indonesia President Re-iterated Bans on Nickel Mineral Exports

According to sources, Indonesian President Jokowi admitted that the ban on raw ore export had not been without challenges, as the European Union (EU) has filed a lawsuit against Indonesia’s nickel ore export ban at the World Trade Organization (WTO).

Mar 2, 2022 15:33

Industry

Indonesia President Re-iterated Bans on Nickel Mineral Exports

SMM Evening Comments (Dec 31): Shanghai Nonferrous Metals Mostly Closed with Gains amid Encouraging China PMI for December

Shanghai nonferrous metals mostly closed in the positive territory as the market was cheered up by the macro front, as China released its December official manufacturing and non-manufacturing PMI readings, which topped market expectation.

Dec 31, 2021 19:00

SMM Comments

SMM Evening Comments (Dec 31): Shanghai Nonferrous Metals Mostly Closed with Gains amid Encouraging China PMI for December

BHP Billiton: Demand for Primary Nickel by Battery Industry to Grow over 500% in 2020-2030

CATARC Co. recently released the "2021 Energy-saving and New Energy Vehicle Development Report."

Dec 31, 2021 13:31

Analysis

BHP Billiton: Demand for Primary Nickel by Battery Industry to Grow over 500% in 2020-2030

SMM Morning Comments (Dec 14): Shanghai Base Metals Basically Trended Lower amid A Cautious Market

Shanghai base metals basically trended lower amid a cautious market which expected the Fed to wrap up the bond purchasing program early than estimate. Meanwhile, their counterparts on LME mostly closed in the positive zone.

Dec 14, 2021 10:00

SMM Comments

SMM Morning Comments (Dec 14): Shanghai Base Metals Basically Trended Lower amid A Cautious Market

SMM Morning Comments (Dec 10): Base Metals Fell across the Board amid Stronger Risk Aversion Sentiments

Shanghai base metals basically trended higher on Friday morning. Meanwhile, their counterparts on LME trended mixed.

Dec 10, 2021 10:00

SMM Comments

SMM Morning Comments (Dec 10): Base Metals Fell across the Board amid Stronger Risk Aversion Sentiments

SHFE Lead Outperformed LME Lead amid Sound Demand among Others

The moves of SHFE and LME have been heading toward different directions recently. As of December 8, LME lead has been falling for five consecutive sessions. SHFE lead, on the other hand, rallied strongly after falling for two days in a row, and rose 1.88% to 15,175 yuan/mt to close the day.

Dec 9, 2021 14:05

SMM Insight

SHFE Lead Outperformed LME Lead amid Sound Demand among Others

A Philippine Nickel Mine Will be Decommissioned in End-2021, Global Nickel Supply May Tighten Further

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Dec 1, 2021 17:23

Industry

A Philippine Nickel Mine Will be Decommissioned in End-2021, Global Nickel Supply May Tighten Further

GEM Plans to Commission Nickel Resource Project in Indonesia in Early 2022

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Nov 30, 2021 10:57

Analysis

GEM Plans to Commission Nickel Resource Project in Indonesia in Early 2022

Supply-Demand of Zinc Ingots to Return to a Tight Balance in December amid Maintenance at Smelters

Market focus this week includes the readings of the manufacturing PMI in the Eurozone in November and the Markit manufacturing PMI in the United States in November; the one-year loan market interest rate as of November 22 in China. On the events front, the Federal Reserve FOMC will release the minutes of the monetary policy meeting this Thursday; Bank of England Governor Bailey will deliver a speech this Friday.

Nov 23, 2021 10:15

SMM Insight SMM Comments

Supply-Demand of Zinc Ingots to Return to a Tight Balance in December amid Maintenance at Smelters

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SMM Analysis: Why LME Nickel Slumped Last Night?

SMM Events & Webinars

Li-ION BATTERY China

APAC (10th) Stainless Steel Industry Conference 2025

2025 15th APAC TIN INDUSTRY CONFERENCE