[Ferro-Alloys.com] Since early November, nickel contract for three months, a kind of strong financial metal, experienced an almost 20 days slip when China’s demand remained weak coupled with the greenback to hike its interest rates. Particularly in November 23, London nickel price closed at 8205 dollar per metric tone with a deep decrease of 5.25 percent when market was controlled by shorts sellers. In the short term, nickel price would wonder between 12000 and 15000 dollars unless Chinese economic policies improved in the near future.

On the other hand, nickel industry has come into a period of production cut when the opening stock in London Metal Exchange has been digesting since early July 2015, both of which would push the price in a right direction. In November 27, eight largest nickel producers in China united to have announced a proposal to cut entirely 15000t nickel in December and more than 20 percent in 2016 as a whole.

In Asia, the International Monetary Fund has accepted yuan as a membership in the SDR basket when the Chinese currency could account for 10.92 percent since October 1, 2016. In Europe-America, when EU focuses on releasing inflationary in the financial market, the Federal Bureau tend to rise the interests rates in the last conference this year when several economic indicators support the action.

Nickel Price in London Metal Exchange & Shanghai Metal Exchange in Nov. 2015

The Opening Stock in London Metal Exchange in Nov. 2015

• [Editor:Juan]