SHFE Nickel Prices down 2.81% (2016-12-22)-Shanghai Metals Market

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SHFE Nickel Prices down 2.81% (2016-12-22)

Price Review & Forecast 05:37:36PM Dec 22, 2016 Source:SMM

SHANGHAI, Dec. 22 (SMM) – On Thursday, SHFE 1705 nickel opened at RMB 91,960/mt and then fluctuated narrowly between RMB 91,900-92,300/mt below the moving average before diving. During the afternoon trading, SHFE 1705 nickel fluctuated weakly and once dropped below RMB 90,000/mt to RMB 89,750/mt. The contract finally closed at RMB 90,120/mt, down 2.81%. Trading volumes increased 112,000 to 494,000 lots and trading volumes rose 16,000 to 557,000. SHFE 1705 nickel closed below the 60-day moving average on Thursday.

SHFE 1705 nickel is expected to test support at the 60-day moving average on Thursday’s night trading. If SHFE 1705 nickel drops below the 60-day moving average, it will keep moving weakly.

Key Words:  SHFE nickel  LME nickel  nickel prices 

SHFE Nickel Prices down 2.81% (2016-12-22)

Price Review & Forecast 05:37:36PM Dec 22, 2016 Source:SMM

SHANGHAI, Dec. 22 (SMM) – On Thursday, SHFE 1705 nickel opened at RMB 91,960/mt and then fluctuated narrowly between RMB 91,900-92,300/mt below the moving average before diving. During the afternoon trading, SHFE 1705 nickel fluctuated weakly and once dropped below RMB 90,000/mt to RMB 89,750/mt. The contract finally closed at RMB 90,120/mt, down 2.81%. Trading volumes increased 112,000 to 494,000 lots and trading volumes rose 16,000 to 557,000. SHFE 1705 nickel closed below the 60-day moving average on Thursday.

SHFE 1705 nickel is expected to test support at the 60-day moving average on Thursday’s night trading. If SHFE 1705 nickel drops below the 60-day moving average, it will keep moving weakly.

Key Words:  SHFE nickel  LME nickel  nickel prices