SHANGHAI, Aug. 29 (SMM) – Crude oil was weighed down last Friday due to Janet Yellen’s hawkish statement, while the US dollar index gained ground. The market remained cautious due to uncertainty whether the Fed will raise rate in September. The LME market will be closed today. January nickel on the SHFE will move between RMB 77,800-79,200/mt. Spot nickel in Shanghai will stabilize between RMB 76,400-77,700/mt.
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.
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.
For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn