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LME Nickel to Remain Range-Bound Trading (2017-1-6)
Jan 6, 2017 09:51Source:SMM
LME nickel will fluctuate between the 5 and 10-day moving averages on Friday and SHFE 1705 nickel will move at RMB 84,300-86,500/mt.
SHANGHAI, Jan. 6 (SMM) – US’s ADP, missing expectation, increased 153,000, and US dollar index thus dropped and offshore yuan fluctuated after rising to above 6.8. Monetary Policy Committee of People’s Bank of China indicated that the fundamentals of Chinese yuan staged small change. LME nickel will fluctuate between the 5 and 10-day moving averages on Friday and SHFE 1705 nickel will move at RMB 84,300-86,500/mt.
In China’s domestic market, spot nickel should trade at RMB 83,100-85,800/mt on Friday.
SHFE nickel
LME nickel
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