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Home / Metal News / Shanghai Nickel Prices to Fall (2016-1-12)

Shanghai Nickel Prices to Fall (2016-1-12)

Jan 12, 2016 09:39

Source:SMM

Glencore filed for bankruptcy at its US company. Offshore yuan surged, while crude oil prices dropped.

SHANGHAI, Jan. 12 (SMM) – Glencore filed for bankruptcy at its US company. Offshore yuan surged, while crude oil prices dropped. LME nickel is expected to fall to previous low today.

See forecast for other base metals, please click:Price Weakness to Continue in Shanghai Market, SMM Says

SHFE 1605 nickel prices should drop to RMB 66,000-67,500/mt. Downstream buyers will mainly took a wait-and-see attitude, and Shanghai spot nickel should fall to RMB 64,700-66,300/mt.

Key Macroeconomic Indicators for Base Metal Prices (2016-1-12)

Glencore

SHFE nickel prices

LME nickel prices

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The focus of this week includes the September seasonally adjusted trade account in the Eurozone; the November New York Federal Reserve manufacturing index; the October unemployment claims and unemployment rate in the United Kingdom; the Eurozone’s Q3 GDP annual rate readings and seasonally adjusted quarterly rate of employment; US retail sales monthly rate in October.

Nov 15, 2021 14:15

SMM Insight SMM Comments

Zinc Prices to Correct amid Weak Consumption

LME Nickel to Fluctuate at Current Level (2017-8-15)

New York Fed’s Robert Dudley said he support the Fed to raise interest rate for another time this year if economic growth remains on track, leaving the US dollar strong and weighing down ferrous metal

Aug 15, 2017 09:24

SMM Comments

LME Nickel to Fluctuate at Current Level (2017-8-15)

SHFE 1801 Nickel Closes Higher (2017-8-4)

SHFE 1801 nickel opened at RMB 84,860/mt today and hovered around RMB 84,400-85,110/mt, with the low-end of RMB 84,400/mt.

Aug 4, 2017 18:56

SMM Comments

SHFE 1801 Nickel Closes Higher (2017-8-4)

SHFE 1709 Nickel Closes Higher (2017-5-17)

SHFE 1709 nickel opened at RMB 76,500/mt today, and inched down to RMB 76,400/mt as longs exited the market with profit-taking.

May 17, 2017 17:17

SMM Comments

Glencore Has No Restart Plan in Near Term, Zinc Production Rises 9% in Q1 2017

Glencore said in its Q1 earnings report its zinc production at self-owned mines rose 9% on a yearly basis to 279,200 tonnes in the first quarter of 2017.

May 5, 2017 17:09

Industry Reminder

Glencore Has No Restart Plan in Near Term, Zinc Production Rises 9% in Q1 2017

LME Nickel to Hover at Lows (2017-4-27)

Trump’s health care reform plan made no substantive progress, weighing down the US dollar.

Apr 27, 2017 09:13

SMM Comments

Glencore Shut down Another Lead-Zinc Mine

Glencore closed another lead-zinc mine on Monday as reserves exhausted, according to wenhua.com.

Nov 2, 2016 09:52

Industry Reminder

SHFE Nickel Prices Down 0.99% (2016-8-26)

SHFE 1701 nickel started at RMB 78,450/mt and ended at RMB 78,310/mt, down 0.99%.

Aug 26, 2016 17:05

SMM Comments

SHFE Nickel to Hover in Narrow Range (2016-8-17)

Crude oil picked up.

Aug 17, 2016 09:31

SMM Comments

SHFE 1701 Nickel Trades Down (2016-8-5)

SHFE 1701 nickel started at RMB 81,600/mt last night and ended at RMB 82,960/mt.

Aug 5, 2016 17:43

SMM Comments

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Shanghai Nickel Prices to Fall (2016-1-12)

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