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SHFE Nickel to Head for Declines (2016-4-18)
Apr 18, 2016 09:32Source:SMM
Crude oil prices tumbled as Doha meeting dashed prospects for oil output cut, while gold gained favor.
SHANGHAI, Apr. 18 (SMM) – Crude oil prices tumbled as Doha meeting dashed prospects for oil output cut, while gold gained favor. LME nickel will look for price floor on Monday.
SHFE 1609 nickel contract is expected to drop to RMB 69,500-70,800/mt.
In domestic spot market, spot nickel prices will drop to RMB 68,000-69,500/mt. Some downstream producers might go bargain hunting.
Key Macroeconomic Indicators for Base Metal Prices (2016-4-18)
LME nickel prices
SHFE nickel prices
nickel prices
Ni price
base metal price forecast
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.
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