Last week, the nickel price in LME performed not very strong and the spot nickel price was quoted at US$13, 780/ton on last Friday.
Market participants estimated that Taiwan’s stainless steel mills would probably cut the price for July this week due to week nickel prices.
Standard Bank in South Africa adjusted the estimated average annual nickel price from US$16, 350/ton to USD15,600/ton recently, but it still expected that the economy would recover after summer, which would help the nickel price to rebound in the fourth quarter of this year.
At present, the market participants estimate that the new price for July maybe drop by NT$1,000-NT$1,500/ton (US$33~US$50/ton), but it still depends on the nickel performance this week in LME.
