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LME Nickel to Move Lower (2017-2-22)
Feb 22, 2017 09:41Source:SMM
LME nickel will find support at the 10-day moving average on Wednesday and SHFE 1705 nickel will trade at RMB 89,100-91,000/mt.
SHANGHAI, Feb. 22 (SMM) – US dollar index advanced above 101 on Tuesday’s night trading and gold increased while base metals declined. SHFE 1705 nickel outperformed. Ferrous metals will remain weak on Wednesday. LME nickel will find support at the 10-day moving average on Wednesday and SHFE 1705 nickel will trade at RMB 89,100-91,000/mt.
In China’s domestic market, spot nickel should trade at RMB 87,900-89,500/mt on Wednesday.
SHFE nickel
LME nickel
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