[brief Review of Nickel in SMM] Nickel in Shanghai closed down nearly 3% at the end of the day

SMM, 17 October:

Shanghai Nickel 1912 contract opened today at 130280 yuan / ton, after the opening, Shanghai nickel weakened downward, near the midday closing time, down 127340 yuan / ton. In the afternoon, Shanghai nickel rebounded slightly, the center of gravity around 128000 yuan / ton horizontal shock finishing, and finally closed at 128750 yuan / ton, compared with the previous trading day settlement price fell 3940 yuan / ton, down 2.97%, trading volume increased by 719000 hands to 1.828 million hands, position increased by 13000 hands to 371000 hands. The Shanghai Nickel 1911 contract reduced its position by 23484 hands today, while the 1912 and 2001 contracts increased their positions by 12928 and 11848 respectively. Throughout the day, the Shanghai Nickel 1912 contract closed in the long negative column, the shadow line down the 60-day moving average 128500 yuan / ton line, the top is faced with a number of moving average pressure, pay attention to whether Shanghai nickel can get 60-day moving average support, to maintain the 128000 yuan / ton level.

This evening focused on the monthly rate of industrial output in the United States in September, the United States to October 11 week EIA natural gas stocks (100 million cubic feet), the United States to October 11 week EIA crude oil stocks (10,000 barrels).

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