[brief comment on Ni in SMM period] after Shanghai Ni pull up, adjust the center of gravity to run around the 100000 yuan / ton gate concussion.

SMM July 9 News:

Shanghai nickel 1908 opened at 100350 yuan / ton today. At the beginning of the day, Shanghai nickel fluctuated in a narrow range above the daily average, and then fell back slightly below the daily average, bearing pressure of 100000 yuan / ton. In the afternoon, Shanghai nickel rose through the 100000 yuan / ton mark, the upper pressure of 100200 yuan / ton line, many times failed to break through, the center of gravity around 100000 yuan / ton small fluctuations, closed at 99940 yuan / ton, compared with the previous trading day settlement price rose 710 yuan / ton, an increase of 0.72%, position decreased 9604 hands to 105854 hands, trading volume decreased 115000 hands to 513000 hands. Shanghai nickel main contract 1908 today closed at the Xiaoyin line, below has been a number of moving average support, the evening is expected to Shanghai nickel center of gravity around 100000 yuan / ton gate shock operation. This evening, Fed Chairman Powell (Jerome Powell) opened the stress test meeting hosted by the Boston Fed via satellite; St. Louis Fed Chairman Brad (James Bullard) addressed the official Forum of the International Monetary and Financial institutions.