Home / Metal News / LME Nickel to Move Lower (2016-12-8)

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

iconDec 8, 2016 10:09
Source:SMM
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

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news