Shanghai Spot Nickel to Fall (2016-5-19)
The US dollar index strengthened on rising likelihood of Fed rate hike in June, while gold plunged.
SHANGHAI, May 19 (SMM) – The US dollar index strengthened on rising likelihood of Fed rate hike in June, while gold plunged. LME nickel should face downward pressure today. September nickel on the SHFE will move between RMB 67,500-69,000/mt. Spot nickel in Shanghai will drop to RMB 66,800-68,400/mt. Downstream buyers are advised to purchase as needed.
Key Macroeconomic Indicators for Base Metal Prices (2016-5-19)
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.
