[Ni Price] Nickel Prices to Post Limited Rise to 85,000-89,000 yuan Next Week

SHANGHAI, Jul. 10 (SMM) – Nickel prices may extend gains next week, but the rise will be limited, SMM research team says.

China’s stock market presented a rebound Thursday and Friday, helping with a rally in nickel market. Panic in the market eased as a result.

“The weak demand during an offseason for downstream sector will curb the price hike, so we see China nickel prices to move at 85,000-89,000 yuan per tonne and LME nickel to trade at $11,300-11,800 a tonne,” SMM analyst predicts. 

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