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SHFE Nickel to See Range-Bound Trading (2017-2-15)
Feb 15, 2017 09:47Source:SMM
LME nickel will find strong support at the 60-day moving average on Wednesday and SHFE 1705 nickel is expected to trade at RMB 88,500-90,500/mt.
SHANGHAI, Feb. 15 (SMM) – US’s economic data is expected to be positive and Federal Reserve Chairwoman Yellen delivered hawkish comment, sending US dollar index up. Export tariff policy in Indonesia is uncertain and will make limited effect on SHFE 1705 nickel. LME nickel will find strong support at the 60-day moving average on Wednesday and SHFE 1705 nickel is expected to trade at RMB 88,500-90,500/mt with support at the 5-day moving average.
In Chin’s domestic market, spot nickel should trade at RMB 87,300-89,000/mt on Wednesday.
SHFE nickel
LME nickel
nickel prices
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.
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Related news
Summary of LME Nickel Trading Activity in June 2017
A monthly summary of LME Nickel trading activity for June this year is provided below.
Jul 14, 2017 20:31
SHFE Nickel Finishes Higher (2017-4-6)
SHFE 1709 nickel opened at RMB 86,560/mt and ended at RMB 86,440/mt, up RMB 740/mt or 0.86%.
Apr 6, 2017 17:40
SHFE Nickel Finishes with Losses (2017-1-19)
SHFE 1705 nickel started at RMB 84,950/mt and finally ended at RMB 84,920/mt, down 0.46%.
Jan 19, 2017 17:30
LME Nickel to Fluctuate at Lows (2017-1-19)
LME nickel will fluctuate at lows and SHFE 1705 nickel will move at RMB 84,200-86,000/mt on Thursday.
Jan 19, 2017 10:09
SHFE Nickel to Set with Losses (20171-12)
LME nickel will test support at RMB 10,000/mt on Thursday and SHFE 1705 nickel will move at RMB 83,800-86,500/mt.
Jan 12, 2017 09:36
SHFE Nickel to Set for Gains (2107-1-10)
LME nickel will increase on Tuesday and SHFE 1705 nickel is expected to range between RMB 85,800-87,800.
Jan 10, 2017 09:43
SHFE Nickel Prices down 0.7% (2017-1-6)
SHFE 1705 nickel opened at RMB 85,200/mt and finally closed at RMB 84,180/mt, down 0.7%.
Jan 6, 2017 21:30
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