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SHFE Nickel to See Range-Bound Trading (2017-1-13)
Jan 13, 2017 09:58Source:SMM
SHFE 1705 nickel will move at RMB 84,000-87,000/mt on Friday.
SHANGHAI, Jan. 13 (SMM) – Indonesia announced to ease export restrictions. SHFE 1705 nickel dived on Thursday’s night trading and then regained lost ground. About RMB 600 million of capital flew into LME and SHFE nickel markets. As the news will be digested on Friday, SHFE 1705 nickel will volatilize narrower, but market players are suggested to be wary. SHFE 1705 nickel will move at RMB 84,000-87,000/mt on Friday.
In China’s domestic market, spot nickel should trade at RMB 83,300-86,400/mt on Friday.
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