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Home / Metal News / Shanghai Spot Nickel to Rise (2016-5-4)

Shanghai Spot Nickel to Rise (2016-5-4)

iconMay 4, 2016 09:42
The US dollar index rebounded due to the likelihood of a Fed rate hike in June, weighing on base metals.

SHANGHAI, May 4 (SMM) – The US dollar index rebounded due to the likelihood of a Fed rate hike in June, weighing on base metals. LME nickel is expected to consolidate at highs today. September nickel on the SHFE will move between RMB 73,500-75,000元/mt. Spot nickel in Shanghai will climb to RMB 72,500-73,800/mt. Downstream buyers are advised to purchase modestly.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-4)


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.

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