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Home / Metal News / Shanghai Spot Nickel to Advance (2016-9-29)

Shanghai Spot Nickel to Advance (2016-9-29)

Sep 29, 2016 09:50

Source:SMM

OPEC countries reached a deal to freeze output, boosting oil prices. Gold plummeted, and the US dollar weakened.

SHANGHAI, Sep. 29 (SMM) –OPEC countries reached a deal to freeze output, boosting oil prices. Gold plummeted, and the US dollar weakened.

LME nickel will find support from the 5-day moving average today. January nickel on the SHFE will move between RMB 81,500-83,000/mt. Spot nickel in Shanghai will rise to RMB 81,000-82,500/mt.

SHFE nickel prices

LME nickel price

For queries, please contact William Gu at williamgu@smm.cn

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LME nickel price is expected to average at $11,000-11,500 per tonne in 2018, SMM nickel analyst predicts at China Nonferrous Metals Industry Annual Meeting 2017 & SMM Nonferrous Metals Price Forecast.

Oct 30, 2017 16:29

Industry

LME Nickel Poised to Rise in 2018, SMM Predicts

Morgan Stanley Sees Nickel Price Higher on Supply Shortages

Morgan Stanley estimates that supply deficit expansion in nickel market will support its price in the medium and long term.

Oct 9, 2017 10:24

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Morgan Stanley Sees Nickel Price Higher on Supply Shortages

LME Nickel to Drop, SMM Predicts

SHFE nickel outperformed LME nickel last week, with bigger gains, and what’s outlook for nickel market this week?

Jul 24, 2017 14:04

SMM Insight Industry

Nickel Price to Keep Fluctuating, SMM Expects

As of 15:00 Friday, LME nickel was $11,370 per tonne, down 0.96 per cent on a weekly basis.

Dec 9, 2016 20:20

SMM Insight Industry

Nickel Price to Keep Fluctuating, SMM Expects

Shanghai Spot Nickel to Rise (2016-9-28)

US stocks closed with gains yesterday.

Sep 28, 2016 09:33

SMM Comments

Shanghai Spot Nickel to Stabilize (2016-9-26)

The nearing OPEC meeting will unlikely produce any substantive result, weighing on oil. The market is awaiting shutdown result at mines in the Philippines.

Sep 26, 2016 09:25

SMM Comments

SHFE Nickel Ends with Small Gains (2016-9-19)

SHFE 1701 nickel opened lower at RMB 77,990/mt and closed at RMB 78,960/mt, up 0.53%.

Sep 19, 2016 17:21

SMM Comments

SHFE Nickel Prices Close with Small Losses (2016-9-13)

SHFE 1701 nickel started at RMB 79,410/mt and closed at RMB 79,310/mt, down 0.97%.

Sep 13, 2016 17:25

SMM Comments

None Chinese Market Players Optimistic toward Nickel, SMM Surveys

SMM surveyed 30 market participants to find that 5 are bullish toward nickel price this week, 19 are neutral and 11 are bearish.

Sep 13, 2016 11:50

SMM Comments

SHFE 1701 Nickel to Rebound (2016-9-13)

The US dollar index weakened overnight due to Fed official’s dovish statement. Crude oil erased some losses.

Sep 13, 2016 09:18

SMM Comments

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Shanghai Spot Nickel to Advance (2016-9-29)

SMM Events & Webinars

2024 SMM Middle East Secondary Metal Field Trip

NET ZERO MEA - Solar & Energy Storage

2025 SMM (20th) Lead & Zinc Conference and Industry Expo