SHFE Nickel to Set with Losses (2017-2-10)

Published: Feb 10, 2017 09:57

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LME nickel will be weighed by the 40-day moving average on Friday and SHFE 1705 nickel will move at RMB 84,800-86,700/mt.

SHANGHAI, Feb. 10 (SMM) – People’s Bank of China stopped publishing reverse repo for five days in a row. Negative news from the Philippines will kept affecting the market. LME nickel will be weighed by the 40-day moving average on Friday and SHFE 1705 nickel will test support at the 20-day moving average and will move at RMB 84,800-86,700/mt.

In China’s domestic market, spot nickel should trade at RMB 83,500-85,500/mt on Friday.

SHFE nickel LME nickel nickel prices

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