SHFE Nickel to Trade down (2016-11-9)

Published: Nov 9, 2016 10:05

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LME nickel will move above USD 11,000/mt on Wednesday and SHFE 1701 nickel is expected to test support at RMB 90,000/mt and range between RMB 88,500-91,500/mt.

SHANGHAI, Nov. 9 (SMM) –US dollar index was volatile due to US presidential election. Market should keep wary sentiment before releasing of the result. LME nickel will move above USD 11,000/mt on Wednesday and SHFE 1701 nickel is expected to test support at RMB 90,000/mt and range between RMB 88,500-91,500/mt.

In China’s domestic market, spot nickel should trade at RMB 87,800-90,200/mt on Wednesday.

SHFE nickel LME nickel nickel prices

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