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Shanghai Nickel Prices to Fall (2016-1-12)
Jan 12, 2016 09:39Source: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
For queries, please contact Michael Jiang at michaeljiang@smm.cn
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