LME Nickel to See Range-Bound Trading (2016-11-24)-Shanghai Metals Market

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LME Nickel to See Range-Bound Trading (2016-11-24)

Price Review & Forecast 10:02:25AM Nov 24, 2016 Source:SMM

SHANGHAI, Nov. 24 (SMM) – US Federal Reserve will hike interest rate in December, according to its November’s meeting minute released on Thursday morning. US dollar index thus hit a new high while Chinese yuan refreshed record low in a row. However, base metals increased on Wednesday’s night trading. LME nickel will move at USD 11,500-11,700/mt on Thursday and SHFE 1701 nickel will range at RMB 94,000-96,500/mt.

In China’s domestic market, spot nickel will increase and trade at RMB 93,100-95,800/mt on Thursday.

Key Words:  SHFE nickel  LME nickel  nickel prices 

Price

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SMM #1 Nickel
Apr.24
99675.0
-525.0
(-0.52%)
#1 JinChuan Nickel
Apr.24
100900.0
-325.0
(-0.32%)
#1 Import Nickel
Apr.24
98450.0
-725.0
(-0.73%)
JinChuan B&C
Apr.24
3250.0
450.0
(16.07%)
Russian nickel premium
Apr.24
775.0
25.0
(3.33%)

LME Nickel to See Range-Bound Trading (2016-11-24)

Price Review & Forecast 10:02:25AM Nov 24, 2016 Source:SMM

SHANGHAI, Nov. 24 (SMM) – US Federal Reserve will hike interest rate in December, according to its November’s meeting minute released on Thursday morning. US dollar index thus hit a new high while Chinese yuan refreshed record low in a row. However, base metals increased on Wednesday’s night trading. LME nickel will move at USD 11,500-11,700/mt on Thursday and SHFE 1701 nickel will range at RMB 94,000-96,500/mt.

In China’s domestic market, spot nickel will increase and trade at RMB 93,100-95,800/mt on Thursday.

Key Words:  SHFE nickel  LME nickel  nickel prices