SHFE Nickel to See Rising Momentum (2016-5-5)
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)
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.
