LME Nickel to See Range-Bound Trading (2016-11-23)-Shanghai Metals Market

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LME Nickel to See Range-Bound Trading (2016-11-23)

Price Review & Forecast 10:03:29AM Nov 23, 2016 Source:SMM

SHANGHAI, Nov. 23 (SMM) – US existing home sales hit a nine and a half year high and markets expect likelihood of US interest rate hike in December to be 100%, supporting US dollar index. SHFE adjust deposit Tuesday night, cooling down commodities. However, optimistic outlook still dominates market. LME nickel is expected to fluctuate on Wednesday and SHFE 1701 nickel will move at RMB 91,600-94,000/mt.

In China’s domestic market, spot nickel should trade at RMB 91,000-93,400/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%)

LME Nickel to See Range-Bound Trading (2016-11-23)

Price Review & Forecast 10:03:29AM Nov 23, 2016 Source:SMM

SHANGHAI, Nov. 23 (SMM) – US existing home sales hit a nine and a half year high and markets expect likelihood of US interest rate hike in December to be 100%, supporting US dollar index. SHFE adjust deposit Tuesday night, cooling down commodities. However, optimistic outlook still dominates market. LME nickel is expected to fluctuate on Wednesday and SHFE 1701 nickel will move at RMB 91,600-94,000/mt.

In China’s domestic market, spot nickel should trade at RMB 91,000-93,400/mt on Wednesday.

Key Words:  SHFE nickel  LME nickel  nickel prices