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Home / Metal News / Shanghai Spot Nickel to Slid (2016-7-14)

Shanghai Spot Nickel to Slid (2016-7-14)

Jul 14, 2016 09:06

Source:SMM

The Bank of UK is expected to lower interest rate today.

SHANGHAI, Jul. 14 (SMM) –The Bank of UK is expected to lower interest rate today. US stocks hit record high, but global trade remained sluggish. Rising crude oil inventories and falling oil imports by China compounded pressure on commodities. LME nickel is expected to move at highs today. September nickel on the SHFE will move between RMB 79,500-81,500/mt. Spot nickel in Shanghai will fall to RMB 78,700-80,100/mt.

SHFE nickel prices

LME nickel prices

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SHFE 1701 nickel started at RMB 78,380/mt and closed at RMB 78,570/mt, down 0.15%.

Aug 29, 2016 17:46

SMM Comments

Shanghai Spot Nickel to Stabilize (2016-8-29)

Crude oil was weighed down last Friday due to Janet Yellen’s hawkish statement, while the US dollar index gained ground.

Aug 29, 2016 09:40

SMM Comments

Shanghai Spot Nickel to Rise (2016-6-20)

The likelihood of a Brexit decreased.

Jun 20, 2016 09:46

SMM Comments

SHFE Nickel Closes Lower (Jun. 8, 2016)

SHFE 1609 nickel started lower at RMB 68,500/mt overnight and dived to RMB 68,320/mt, to close at RMB 68,700/mt.

Jun 8, 2016 17:16

SMM Comments

33% Market Players in China Bullish toward Nickel, SMM Survey

SMM surveyed 30 market players to find that 10 are bullish, 15 are neutral and 5 are bearish.

Jun 7, 2016 10:40

SMM Comments

SHFE Nickel Trades Lower (May 24, 2016)

SHFE 1609 nickel started at RMB 67,720/mt overnight and once fell to RMB 66,430/mt before closing at RMB 67,180/mt.

May 24, 2016 16:56

SMM Comments

Shanghai Spot Nickel to Hold Stable (2016-5-11)

Crude oil producing countries continued to increase output.

May 11, 2016 09:41

SMM Comments

LME Nickel to Face Pressure (2016-5-9)

The US dollar index remained strong.

May 9, 2016 10:06

SMM Comments

Shanghai Spot Nickel to Fall (2016-5-6)

LME nickel is expected to rally today. September nickel on the SHFE will move between RMB 70,000-72,500/mt.

May 6, 2016 09:48

SMM Comments

Shanghai Spot Nickel Prices to Hover Narrowly (2016-4-1)

China’s official PMI slated for release today is expected to improve.

Apr 1, 2016 09:30

SMM Comments

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Shanghai Spot Nickel to Slid (2016-7-14)

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