Shanghai Nickel Price to Rise (2015-12-15)

Published: Dec 15, 2015 09:59

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Crude oil prices hit a record low and are still pessimistic. The Fed will hold its policy meeting tonight.

SHANGHAI, Dec. 15 (SMM) – Crude oil prices hit a record low and are still pessimistic. The Fed will hold its policy meeting tonight. LME nickel should fall today with entry of shorts at highs and exodus of longs after profit-taking.

See forecast for other base metals, please click:Diverging Trends to Intensify in Base Metal Market, SMM Says

SHFE 1601 nickel contract prices will move between RMB 67,500-69,000/mt today. Downstream buyers will refrain from buying on rising zinc prices. Spot nickel should rise slightly to RMB 67,700-69,800/mt.

Key Macroeconomic Indicators for Base Metal Prices (2015-12-15)

SHFE nickel prices LME nickel prices nickel prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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