ASIAN PRICE WRAP: Nickel rebounds from year low

Nickel prices rose sharply during Asian trading hours on Thursday April 2, as the alloying metal rallied after recent steep falls.

On the Shanghai Futures Exchange (SHFE), the most-traded July nickel contract closed at 96,160 yuan ($15,689) per tonne, up 3,660 yuan,or 4%, from last session.
On the London Metal Exchange, three-month nickel was trading at $12,945 per tonne by 8:15 UK time, up 1.4% from its opening.
”Nickel was oversold in recent sessions, so it is natural to see some rebound today,” a metals analyst in Shanghai said.
Despite Thursday's gains, some analysts said they remained wary on the outlook for nickel prices.

“Given the...


Linda Lin

April 02, 2015

08:43 GMT