Shanghai Spot Nickel to Rise (2016-9-5)
US non-farm employment in August fell short of market expectations, weakening the likelihood of a Fed rate hike in September.
SHANGHAI, Sep. 5 (SMM) – US non-farm employment in August fell short of market expectations, weakening the likelihood of a Fed rate hike in September. LME nickel will move between RMB 10,000/mt today. January nickel on the SHFE will rise to RMB 79,800-81,500/mt. Spot nickel in Shanghai will rise to RMB 78,200-79,700/mt.
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.