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SHFE Nickel to See Range-Bound Trading (2016-11-16)
Nov 16, 2016 09:41Source:SMM
LME nickel will find support at the 10-day moving average on Wednesday and SHFE 1701 nickel will move between RMB 90,000-93,000/mt.
SHANGHAI, Nov. 16 (SMM) – Inspections disrupt China’s commodities futures market and some futures companies were under investigation. Ferrous metals dived on Tuesday, depressing market sentiment. LME nickel will find support at the 10-day moving average on Wednesday and SHFE 1701 nickel will move between RMB 90,000-93,000/mt.
In China’s domestic market, spot nickel should trade at RMB 89,800-92,700/mt on Wednesday.
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