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Home / Metal News / Shanghai Spot Nickel Prices to Remain Firm (2016-2-19)

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

Feb 19, 2016 09:28

Source:SMM

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

SHANGHAI, Feb. 19 (SMM) – China’s credit loans surged, and gold posted sharp gains. Saudi Arab will not cut crude oil output. LME nickel is expected to remain range-bound, and May nickel on the SHFE will hover between RMB 66,500-67,500/mt today.

See forecast for other base metals, please click:Downward Pressures Remain in Nickel in Shanghai Market, SMM Says

Spot nickel should hold at RMB 65,000-66,500/mt.

Key Macroeconomic Indicators for Base Metal Prices (2016-2-19)

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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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 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

SMM Comments

Nickel Prices to Fall as Shorts Return, SMM Says

Nickel prices on the SHFE are expected to drift lower this coming week as the shorts return, Shanghai Metals Market foresees.

Oct 30, 2015 17:00

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

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