SHFE Nickel Sets for Gains (2016-11-22)-Shanghai Metals Market

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SHFE Nickel Sets for Gains (2016-11-22)

Price Review & Forecast 09:47:38AM Nov 22, 2016 Source:SMM

SHANGHAI, Nov. 22 (SMM) – US dollar index dropped on Tuesday, supported commodities. Attention should be on economic data on Tuesday, including Eurozone consumer confidence index in November and US existing home sales in October. LME nickel finds support at the 5-day moving average. SHFE 1701 nickel will move between RMB 91,400-94,000/mt on Tuesday with support at the 5-day moving average.

In China’s domestic market, spot nickel should trade at RMB 90,600-93,600/mt on Tuesday.

Key Words:  SHFE nickel  LME nickel  nickel prices 

Price

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SMM #1 Nickel
Apr.22
101450.0
700.0
(0.69%)
#1 JinChuan Nickel
Apr.22
102400.0
850.0
(0.84%)
#1 Import Nickel
Apr.22
100500.0
550.0
(0.55%)
JinChuan B&C
Apr.22
2650.0
150.0
(6.00%)
Russian nickel premium
Apr.22
775.0
-100.0
(-11.43%)

SHFE Nickel Sets for Gains (2016-11-22)

Price Review & Forecast 09:47:38AM Nov 22, 2016 Source:SMM

SHANGHAI, Nov. 22 (SMM) – US dollar index dropped on Tuesday, supported commodities. Attention should be on economic data on Tuesday, including Eurozone consumer confidence index in November and US existing home sales in October. LME nickel finds support at the 5-day moving average. SHFE 1701 nickel will move between RMB 91,400-94,000/mt on Tuesday with support at the 5-day moving average.

In China’s domestic market, spot nickel should trade at RMB 90,600-93,600/mt on Tuesday.

Key Words:  SHFE nickel  LME nickel  nickel prices