LME Nickel to Move Lower (2016-11-14)

Published: Nov 14, 2016 10:08

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LME nickel is predicted to drop slightly on Monday and SHFE 1701 nickel will range between RMB 89,000-92,500/mt.

SHANGHAI, Nov. 14 (SMM) – Prices all plumped in SHFE market last Friday, raising market wary sentiment. Chance of US interest rate hike in December’s meeting is high and US dollar keeps rising while Chinese yuan remains downward momentum. LME nickel is predicted to drop slightly on Monday and SHFE 1701 nickel will range between RMB 89,000-92,500/mt.

In China’s domestic market, spot nickel should trade at RMB 88,500-92,000/mt on Monday.

SHFE nickel LME nickel nickel prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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