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Shanghai Spot Nickel to Rise (2016-9-2)
Sep 2,2016 09:17CST
price review forecast
Crude oil slumped due to oversupply.

SHANGHAI, Sep. 2 (SMM) – Crude oil slumped due to oversupply. Major economic indicators from the US released overnight fell short of market expectations, weighing down the US dollar index. LME nickel will move between the 5 and 10-day moving average today. January nickel on the SHFE will move between RMB 78,800-80,000/mt. Spot nickel in Shanghai will rise to RMB 77,300-78,900/mt. 

LME nickel prices
SHFE nickel prices

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