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

LME Nickel to Move Higher (2016-12-12)

Dec 12, 2016 09:41

Source:SMM

LME nickel is expected to strengthen on Monday and SHFE 1705 nickel will increase to RMB 94,800-97,500/mt.

SHANGHIA, Dec. 12 (SMM) – OPEC and non-OPEC members reached consensus on oil output cut for the first time in 15 years. Oil thus opened higher with a full and refreshed a 17-month high at USD 54.51/bbl. China’s CPI and PPI both increased in November. LME nickel is expected to strengthen on Monday and SHFE 1705 nickel will increase to RMB 94,800-97,500/mt.

In China’s domestic market, spot nickel should trade at RMB 93,400-95,600/mt on Monday.

SHFE nickel

LME nickel

nickel prices

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