Shanghai Spot Nickel to Hold Stable (2016-5-26)-Shanghai Metals Market

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Shanghai Spot Nickel to Hold Stable (2016-5-26)

Price Review & Forecast 10:00:57AM May 26, 2016 Source:SMM

SHANGHAI, May 26 (SMM) – Yuan depreciated while oil rose. LME nickel is expected to stabilize today. September nickel on the SHFE will move between RMB 66,200-68,000/mt. Traders will sell actively, while downstream buyers will purchase modestly. Spot nickel in Shanghai will be RMB 65,500-66,800/mt.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-26)


Price

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62% Fe Fines (Qingdao Port): IOPI62
May.27
787.0
29.0
(3.83%)
62% Fe Fines (Qingdao Port, CFR Equiv.)
May.27
106.0
4.2
(4.10%)
58% Fe Fines (Qingdao Port): IOPI58
May.27
666.0
22.0
(3.42%)
58% Fe Fines (Qingdao Port, CFR Equiv.)
May.27
90.0
3.2
(3.67%)
65% Fe Fines (Qingdao Port): IOPI65
May.27
881.0
15.0
(1.73%)

Shanghai Spot Nickel to Hold Stable (2016-5-26)

Price Review & Forecast 10:00:57AM May 26, 2016 Source:SMM

SHANGHAI, May 26 (SMM) – Yuan depreciated while oil rose. LME nickel is expected to stabilize today. September nickel on the SHFE will move between RMB 66,200-68,000/mt. Traders will sell actively, while downstream buyers will purchase modestly. Spot nickel in Shanghai will be RMB 65,500-66,800/mt.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-26)