LME Nickel Price to Fluctuate at Highs (2017-6-29)

SHANGHAI, Jun. 29 (SMM) – EIA gasoline inventories for the US have been falling for two weeks on end, boosting oil prices. Brent oil prices returned to USD 47/bbl, and NYMEX August oil prices reached nearly USD 48/bbl. European Central Bank President said inflation reverted to deflation, Bank of UK President said it is necessary to remove some stimulus measures, driving up the pound whilst pushing down the US dollar below 96 at one point. LME nickel will hover at highs today, and SHFE 1709 nickel should hover between RMB 75,500-76,700/mt, with spot prices between RMB 75,000-77,700/mt.