LME Nickel to Move Lower (2016-12-8)

Published: Dec 8, 2016 10:09

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LME nickel will test support at the 20-day moving average on Thursday and SHFE 1705 nickel is expected to range between RMB 93,500-96,000/mt.

SHANGHAI, Dec. 8 (SMM) – US’s employment released on Wednesday night kept positive and crude oil remained soft, and base metals dropped across the board. Crude oil will stabilize at lows on Thursday. LME nickel will test support at the 20-day moving average on Thursday and SHFE 1705 nickel is expected to range between RMB 93,500-96,000/mt.

In China’s domestic market, spot nickel should trade at RMB 145,000-147,500/mt on Thursday.

SHFE nickel LME nickel nickel prices

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