SHFE Nickel to Trade down (2016-11-9)-Shanghai Metals Market

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

Price Review & Forecast 10:05:03AM Nov 09, 2016 Source:SMM

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.

Key Words:  SHFE nickel  LME nickel  nickel prices 

Price

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SMM #1 Nickel
Apr.19
100750.0
-850.0
(-0.84%)
#1 JinChuan Nickel
Apr.19
101550.0
-675.0
(-0.66%)
#1 Import Nickel
Apr.19
99950.0
-1025.0
(-1.02%)
JinChuan B&C
Apr.19
2500.0
300.0
(13.64%)
Russian nickel premium
Apr.19
875.0
-75.0
(-7.89%)

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

Price Review & Forecast 10:05:03AM Nov 09, 2016 Source:SMM

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.

Key Words:  SHFE nickel  LME nickel  nickel prices