SHFE Nickel to Stay Firm (2017-3-6)

Published: Mar 06, 2017 09:54 (GMT+8)

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LME nickel will find support at the 10-day moving average on Monday and SHFE 1705 nickel will move at RMB 90,500-91,900/mt.

SHANGHAI, Mar. 6 (SMM) – Although US Federal Reserve officials’ hawkish comment strengthened expectation of rate hike, US dollar index dropped technically. LME nickel will find support at the 10-day moving average on Monday and SHFE 1705 nickel will move at RMB 90,500-91,900/mt.

In China’s domestic market, spot nickel should trade at RMB 89,400-90,600/mt on Monday.

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 communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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