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Home / Metal News / SHFE Nickel to See Rising Momentum (2016-5-5)

SHFE Nickel to See Rising Momentum (2016-5-5)

May 5, 2016 09:45

Source:SMM

SHFE 1609 nickel should be set for gains and range RMB 74,000-75,000/mt on May 5.

SHANGHAI, May 5 (SMM) – SHFE 1609 nickel should be set for gains and range RMB 74,000-75,000/mt on May 5.

US economic figures are mixed and US dollar will likely bounce back. Crude oil prices enter into rally track. Spot nickel will trade at RMB 72,500-73,500/mt with downstream poor demand.

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

SHFE nickel prices

LME nickel prices

Ni price

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Jinchuan Group raised its ex-works prices 300 yuan per tonne on May 11.

May 11, 2016 15:24

Reminder

Jinchuan Group Reduces Nickel Price by 1,500 yuan on May 10

Jinchuan Group axed its ex-works prices 1,500 yuan per tonne on May 10.

May 10, 2016 11:44

Reminder

Jinchuan Group Cuts Nickel Price by 500 yuan on May 9

Jinchuan Group reduced its ex-works prices 500 yuan per tonne on May 9.

May 9, 2016 17:50

Reminder

Jinchuan Group Cuts Nickel Price by 2,000 yuan on May 6

Jinchuan Group axed its ex-works prices 2,000 yuan per tonne on May 6.

May 6, 2016 13:31

Reminder

SHFE 1609 Nickel Ends Up 2.76% (2016-4-22)

On Thursday’s night trading, SHFE 1609 nickel fell from RMB 75,100/mt to RMB 70,500/mt following news that the SHFE and DCE would raise ferrous metals transaction fees.

Apr 22, 2016 20:12

SMM Comments

SHFE Nickel Closes with Small Gains (Mar. 29, 2016)

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 Remain Firm (2016-2-19)

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

Feb 19, 2016 09:28

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

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SHFE Nickel to See Rising Momentum (2016-5-5)

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