Nickel Prices to Fluctuate At High Levels

On the macro front, the ADP non-farm payrolls for June in the United States were 497,000, indicating that the current US job market is still strong. US initial jobless cliams in the week of July 1 were 248,000.

Seasonally adjusted non-farm payrolls will be announced this evening, which is estimated at 200,000, lower than the previous value of 339,000.

We need to pay attention to the annualised US CPI in June. If the announced value is higher than the previous value of 4.0%, it will be positive for the dollar and negative for commodities. Spot transaction in the market was weak. In summary, it is expected that the nickel price may fluctuate at highs in the near term.

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