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Shanghai Spot Nickel to Drop (2016-5-27)
May 27, 2016 09:59US existing home sales were much higher than expected.
SHANGHAI, May 27 (SMM) – US existing home sales were much higher than expected. The US dollar index fell initially than rose. LME nickel is expected to weaken today. September nickel on the SHFE will move between RMB 66,000-67,500/mt. Traders will sell actively, while downstream buyers will purchase modestly. Spot nickel in Shanghai will fall to RMB 65,300-66,500/mt.
Key Macroeconomic Indicators for Base Metal Prices (2016-5-27)
SHFE nickel prices
LME nickel prices
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