LME Nickel to Weaken (2016-8-22)-Shanghai Metals Market

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LME Nickel to Weaken (2016-8-22)

Price Review & Forecast 09:40:35AM Aug 22, 2016 Source:SMM

SHANGHAI, Aug. 22 (SMM) – The US dollar index was firm due to Fed deputy chairman’s hawkish statement. UK many officially start exit from the EU in April 2017, pushing down the pound. Crude oil hovered at highs, but should lack ability to rise without support from fundamentals. LME nickel is expected to move between USD 10,300-10,400/mt today. January nickel on the SHFE will fluctuate between RMB 81,200-82,400/mt. Spot nickel in Shanghai will move between RMB 79,500-80,700/mt. 


LME Nickel to Weaken (2016-8-22)

Price Review & Forecast 09:40:35AM Aug 22, 2016 Source:SMM

SHANGHAI, Aug. 22 (SMM) – The US dollar index was firm due to Fed deputy chairman’s hawkish statement. UK many officially start exit from the EU in April 2017, pushing down the pound. Crude oil hovered at highs, but should lack ability to rise without support from fundamentals. LME nickel is expected to move between USD 10,300-10,400/mt today. January nickel on the SHFE will fluctuate between RMB 81,200-82,400/mt. Spot nickel in Shanghai will move between RMB 79,500-80,700/mt.