LME Nickel to Close with Gains (2016-12-5)-Shanghai Metals Market

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LME Nickel to Close with Gains (2016-12-5)

Price Review & Forecast 10:22:31AM Dec 05, 2016 Source:SMM

SHANGHAI, Dec. 5 (SMM) – US’s nonfarm payroll report missed market’s expectation in November, but unemployment hit the lowest level since August, 2007, sustaining odds of US’s interest rate hike in December. Most Italians opposed to amend constitution, according to Italian voting in November 4, and euro thus dived. Philippines will publish closure list of nickel mines soon, and SHFE 1705 nickel thus broke through the moving average on last Friday. LME nickel will find support at the 20-day moving average on Monday and SHFE 1705 nickel is expected to range between RMB 93,800-96,500/mt.

In China’s domestic market, spot tin should trade at RMB 92,400-95,400/mt on Monday.

Key Words:  SHFE nickel  LME nickel  nickel prices 

LME Nickel to Close with Gains (2016-12-5)

Price Review & Forecast 10:22:31AM Dec 05, 2016 Source:SMM

SHANGHAI, Dec. 5 (SMM) – US’s nonfarm payroll report missed market’s expectation in November, but unemployment hit the lowest level since August, 2007, sustaining odds of US’s interest rate hike in December. Most Italians opposed to amend constitution, according to Italian voting in November 4, and euro thus dived. Philippines will publish closure list of nickel mines soon, and SHFE 1705 nickel thus broke through the moving average on last Friday. LME nickel will find support at the 20-day moving average on Monday and SHFE 1705 nickel is expected to range between RMB 93,800-96,500/mt.

In China’s domestic market, spot tin should trade at RMB 92,400-95,400/mt on Monday.

Key Words:  SHFE nickel  LME nickel  nickel prices