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Home / Metal News / Shanghai Spot Nickel to Stabilize (2016-8-29)

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

Aug 29, 2016 09:40

Source:SMM

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

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.

LME nickel prices

SHFE nickel prices

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

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