SHFE 1609 nickel started at RMB 68,190/mt overnight and once fell to RMB 67,770/mt. The contract later ranged RMB 68,300-68,500/mt before closing at RMB 68,350/mt.

[www.ferro-alloys.com]SHFE 1609 nickel started at RMB 68,080/mt for night session last Friday and ranged RMB 68,000-68,600/mt.

[www.ferro-alloys.com]LME price has started to rebound after the fall in the last week, maintaining a rising momentum by breaking through the resistance line.

A bullish outlook that will see nickel climb out of its current price slump and double in value to in excess of US$20000 a tone before March 2017, has been forecast today by market observer, Alto Capital.

Goldman Sachs on Thursday slashed its 2016 price forecast for nickel by more than 20%, primarily citing challenges to Chinese metals and mining demand.

The global nickel market should swing into a 23000 tonne deficit in 2016 from a small surplus in 2015, the International Nickel Study Group said on Wednesday, predicting that Chinese customers would drive an increase in nickel use.

Monthly Comments and Expectation on Ni Products Market on July 2015

LME nickel price from Jan. to Mar. in 2015(Unit: USD/mt)