Nickel futures traded lower by 0.28% to Rs 701.20 per kg largely in tune with weak overseas trend amidst subdued demand from alloy-makers at domestic spot markets.

Nickel prices softened by 0.14% to Rs 692.90 per kg in futures market today as speculators trimmed positions amidst low demand from alloy makers in the spot market.

Monthly Comments and Expectation on Ni Products Market on July 2015

This week, LME nickel price wobbled around the line of USD11 000. As a whole it seems held steady temperately.

This week, in the domestic market, high-grade FeNi price slipped a little while low-grade held steady. Low-grade type was mainly quoted at RMB160-180 per wet ton. Mid-grade type slightly abandoned RMB10 to around RMB300-320 per wet ton and high-grade lost RMB5...

This week, FeNi price slipped a little showing a disappointing performance. Low-grade one dropped RMB30 per ton quoted at around RMB1800-1820 per ton. And Mid-grade shed RMB10 per Ni traded at about RMB840-860 per Ni while high-grade type added RMB10 per Ni to...

It seems likely that the traders are suffering a period of dilemma in which there’s not too many options for them.

This week, the Word Bureau of Metal Statistics reported that the nickel supply between Jan and May in 2015 surplus 19,000 tons when in 2014 totally excess 196,100 tons. In later May, LME nickel storage added 51,000 tons compared to that on later 2014 and advan...