LME Nickel to Set with Losses (2016-12-22)-Shanghai Metals Market

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LME Nickel to Set with Losses (2016-12-22)

Price Review & Forecast 10:00:04AM Dec 22, 2016 Source:SMM

SHANGHAI, Dec. 22 (SMM) – Market players exit from market successively with nearing Christmas, weighing down SHFE 1705 nickel. LME nickel will keep weak on Thursday and SHFE 1705 nickel will move at RMB 90,800-92,800/mt with resistance at the 40-day moving average.

In China’s domestic market, spot nickel should trade at RMB 89,300-91,500/mt on Thursday.

Eyes should be on a series of US’s economic data on Thursday, including annual real GDP in Q3, initial jobless claim from the week ending December 16, November’s durable goods orders, November’s core PEC price index and November’s personal receipts and disbursements.

Key Words:  SHFE nickel  LME nickel  nickel prices 

LME Nickel to Set with Losses (2016-12-22)

Price Review & Forecast 10:00:04AM Dec 22, 2016 Source:SMM

SHANGHAI, Dec. 22 (SMM) – Market players exit from market successively with nearing Christmas, weighing down SHFE 1705 nickel. LME nickel will keep weak on Thursday and SHFE 1705 nickel will move at RMB 90,800-92,800/mt with resistance at the 40-day moving average.

In China’s domestic market, spot nickel should trade at RMB 89,300-91,500/mt on Thursday.

Eyes should be on a series of US’s economic data on Thursday, including annual real GDP in Q3, initial jobless claim from the week ending December 16, November’s durable goods orders, November’s core PEC price index and November’s personal receipts and disbursements.

Key Words:  SHFE nickel  LME nickel  nickel prices