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SHFE Nickel to Set with Losses (2017-2-10)
Feb 10, 2017 09:57Source:SMM
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
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