LME Nickel to Find Support (2016-11-4)-Shanghai Metals Market

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LME Nickel to Find Support (2016-11-4)

Price Review & Forecast 09:42:27AM Nov 04, 2016 Source:SMM

SHANGHAI, Nov. 4 (SMM) – US ISM nonmanufacturing index in October and durable goods orders in September both missed expectation. Eyes should be on US’s nonfarm payroll report in October on Friday’s night trading. Market players may keep wary sentiment on Friday. LME nickel is predicted to find support at the 5-day moving average on Friday and SHFE 1701 nickel will move between RMB 82,600-84,400/mt.

In China’s domestic market, spot nickel should trade at RMB 82,200-83,700/mt on Friday.

Key Words:  LME nickel  SHFE nickel  nickel prices 

LME Nickel to Find Support (2016-11-4)

Price Review & Forecast 09:42:27AM Nov 04, 2016 Source:SMM

SHANGHAI, Nov. 4 (SMM) – US ISM nonmanufacturing index in October and durable goods orders in September both missed expectation. Eyes should be on US’s nonfarm payroll report in October on Friday’s night trading. Market players may keep wary sentiment on Friday. LME nickel is predicted to find support at the 5-day moving average on Friday and SHFE 1701 nickel will move between RMB 82,600-84,400/mt.

In China’s domestic market, spot nickel should trade at RMB 82,200-83,700/mt on Friday.

Key Words:  LME nickel  SHFE nickel  nickel prices