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

Published: May 4, 2016 09:42

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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

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