MCX Zinc Live News

Nickel prices

Golden Investment Research Private Limited

MCX Nickel prices are topping out due to weak Chinese demand, Macquarie said in a research report. MCX Nickel was one of the worst performing metal at the London Metal exchange (LME) in 2011.

After hitting a peak of about $54,000/tonne in 2007, LME nickel currently trades

The Macquarie report said while adding that “We think that the current supply demand balance can support MCX Nickel prices in the $18-20,000/tonnes range for this year... but not sustainably above $20,000/tonnes”

For 2012, MCX Nickel has started out positive with benchmark LME prices moving up from $18500/tonne to near $22,000/tonne. MCX nickel has meanwhile gained around 6% for the year till date. 

www.goldennifty.com