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Home / Metal News / Shanghai Nickel to Hold Stable (2015-12-18)

Shanghai Nickel to Hold Stable (2015-12-18)

iconDec 18, 2015 10:10
Central Economic Work Conference is being held today, and the market will continue to absorb news that the Fed raised interest rate.

SHANGHAI, Dec. 18 (SMM) – Central Economic Work Conference is being held today, and the market will continue to absorb news that the Fed raised interest rate. Crude oil prices continued to fall. LME nickel should fall below moving averages today.

See forecast for other base metals, please click:Base Metal Prices to Weaken, with Eyes on China, SMM Says 

SHFE 1605 nickel became the most actively traded contracts, with prices expected to drop to RMB 69,000-70,000/mt today. Demand will remain soft, and Shanghai spot nickel should stabilize at RMB 67,300-69,300/mt.

Key Macroeconomic Indicators for Base Metal Prices (2015-12-18)

 


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

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

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