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

Published: Feb 4, 2016 10:46

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

SHANGHAI, Feb. 4 (SMM) – Crude oil prices rebounded on output cut expectations. The US dollar index plunged. LME nickel is expected to remain range-bound today.

See forecast for other base metals, please click:Shanghai Base Metal Price to Keep Firm ahead of Holiday, SMM Says

SHFE 1605 nickel prices should fluctuate between RMB 68,500-70,000/mt. Trading will be muted, and Shanghai spot nickel should stabilize at RMB 67,000-68,500/mt.

Key Macroeconomic Indicators for Base Metal Prices (2016-2-4)

LME nickel prices SHFE 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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