SHFE Nickel to Keep Ranging (2016-12-21)

Published: Dec 21, 2016 10:11

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LME nickel will move above the 60-day moving average on Wednesday and SHFE 1705 nickel will range between RMB 91,500-93,500/mt.

SHANGHAI, Dec. 21 (SMM) – SHFE 1705 nickel stopped falling and stabilized on Tuesday’s night trading. LME nickel will move above the 60-day moving average on Wednesday and SHFE 1705 nickel will range between RMB 91,500-93,500/mt.

In China’s domestic market, spot nickel should trade at RMB 90,200-91,800/mt on Wednesday. Attention should be on US’s API and EIA crude oil inventory, US’s existing home sales in November and Eurozone’s consumer confidence index in December.

SHFE nickel LME nickel nickel prices

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