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Home / Metal News / Shanghai Nickel Prices to Fall (2015-12-29)

Shanghai Nickel Prices to Fall (2015-12-29)

Dec 29, 2015 09:50

Source:SMM

The market will lack solid macroeconomic news today. Falling Shanghai Composite Index will drag down base metals prices.

SHANGHAI, Dec. 29 (SMM) – The market will lack solid macroeconomic news today. Falling Shanghai Composite Index will drag down base metals prices. When combined with yuan’s devaluation expectations, LME nickel should fall.

See forecast for other base metals, please click:Strong Dollar to Pressure the Light Trading Market, SMM Says

SHFE 1605 nickel prices are expected to inch down to RMB 67,500-68,800/mt today. Downstream buyers will purchase at lows, and Shanghai spot nickel should fall to RMB 66,000-68,500/mt.

Key Macroeconomic Indicators for Base Metal Prices (2015-12-29)

LME nickel prices

SHFE nickel prices

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SHFE 1605 nickel started at RMB 68,180/mt overnight and then narrowly ranged RMB 68,100-68,300/mt.

Mar 29, 2016 15:41

SMM Comments

Shanghai Spot Nickel Prices to Climb (2016-2-22)

LME nickel is expected to maintain upward momentum on news that the Philippines will reduce nickel ore supply.

Feb 22, 2016 09:52

SMM Comments

Shanghai Spot Nickel Prices to Remain Firm (2016-2-19)

China’s credit loans surged, and gold posted sharp gains. Saudi Arab will not cut crude oil output.

Feb 19, 2016 09:28

SMM Comments

Shanghai Spot Nickel Prices to Stabilize (2016-2-4)

Crude oil prices rebounded on output cut expectations. The US dollar index plunged. LME nickel is expected to remain range-bound today.

Feb 4, 2016 10:46

SMM Comments

SHFE Nickel Ends Up 1.66% (Jan. 18, 2016)

SHFE 1605 nickel started last Friday night session at RMB 67,820/mt and bounced back to RMB 68,960/mt.

Jan 18, 2016 19:37

SMM Comments

Shanghai Spot Nickel Prices to Rise (2016-1-15)

Risk appetite improved after negative news was absorbed.

Jan 15, 2016 10:13

SMM Comments

SHFE Nickel Up 0.8% (Dec. 31, 2015)

SHFE 1605 nickel opened Wednesday night session at RMB 70,100/mt and then narrowly ranged RMB 69,880-70,400/mt.

Dec 31, 2015 19:05

SMM Comments

SHFE Nickel to Fall on Wait-and-See Posture (2015-12-17)

The US dollar rose after Fed interest rate increase, and LME nickel saw shorts closing positions.

Dec 17, 2015 10:01

SMM Comments

SHFE Nickel Prices off 2.21% (Nov. 5, 2015)

SHFE 1601 nickel started Wednesday night session at RMB 75,700/mt and closed the session at RMB 75,730/mt.

Nov 5, 2015 16:57

SMM Comments

SHFE Nickel Closes with Losses (Nov. 2, 2015)

SHFE 1601 nickel opened at RMB 77,100/mt last Friday night and ranged between RMB 76,900-77,300/mt, to end at RMB 76,640/mt.

Nov 2, 2015 19:35

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