LME Nickel to See Range-Bound Trading (2016-11-1)-Shanghai Metals Market

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LME Nickel to See Range-Bound Trading (2016-11-1)

Price Review & Forecast 09:51:11AM Nov 01, 2016 Source:SMM

SHANGHAI, Nov. (SMM) – Crude oil plumped to a month-low on Monday’s night trading and US’s core PEC prices index rose 1.7% YoY in September. Growth of Eurozone’s CPI hit two-year high on a yearly basis in October. LME nickel will move at USD 10,350-10,500/mt on Tuesday and SHFE 1701 nickel is expected to range between RMB 82,000-84,000/mt, both with strong support at the moving averages.

In China’s domestic market, spot aluminum should trade at RMB 81,500-83,200/mt on Tuesday.

Key Words:  LME nickel  SHFE nickel  nickel prices 

Price

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SMM #1 Nickel
Apr.18
101600.0
-1150.0
(-1.12%)
#1 JinChuan Nickel
Apr.18
102225.0
-1000.0
(-0.97%)
#1 Import Nickel
Apr.18
100975.0
-1350.0
(-1.32%)
JinChuan B&C
Apr.18
2200.0
300.0
(15.79%)
Russian nickel premium
Apr.18
950.0
-50.0
(-5.00%)

LME Nickel to See Range-Bound Trading (2016-11-1)

Price Review & Forecast 09:51:11AM Nov 01, 2016 Source:SMM

SHANGHAI, Nov. (SMM) – Crude oil plumped to a month-low on Monday’s night trading and US’s core PEC prices index rose 1.7% YoY in September. Growth of Eurozone’s CPI hit two-year high on a yearly basis in October. LME nickel will move at USD 10,350-10,500/mt on Tuesday and SHFE 1701 nickel is expected to range between RMB 82,000-84,000/mt, both with strong support at the moving averages.

In China’s domestic market, spot aluminum should trade at RMB 81,500-83,200/mt on Tuesday.

Key Words:  LME nickel  SHFE nickel  nickel prices