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LME Nickel to Return to Rise (2016-4-22)
Apr 22, 2016 09:28Source:SMM
ECB President’s speech may hint at more monetary stimulus.
SHANGHAI, Apr. 22 (SMM) – ECB President’s speech may hint at more monetary stimulus. The pullback in base metals was due mainly to correction after big gains. LME nickel has held firmly above USD 9,000/mt and will return to rise.
SHFE 1609 nickel will fall slower and move at RMB 71,500-75,000/mt on Friday.
In domestic spot market, spot nickel prices will follow SHFE nickel down to RMB 70,000-71,500/mt. Downstream producers are suggested to increase purchases at low prices.
Key Macroeconomic Indicators for Base Metal Prices (2016-4-22)
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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