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

Published: Nov 1, 2016 09:51

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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.

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.

LME nickel SHFE nickel nickel prices

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