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LME Nickel to Find Support (2017-3-10)
Mar 10, 2017 09:56Source:SMM
LME nickel will find support at downside of Bollinger brand and SHFE 1705 nickel will move between RMB 83,600-85,200/mt on Friday.
SHANGHAI, Mar. 10 (SMM) – Expectation over US’s rate hike strengthens recently and US dollar index keeps hovering at highs, weighing down dollar-denominated assets. Crude oil and gold will remain weak. Eyes should be on US’s February nonfarm payroll report on Friday. As the news has been digested, it will make limited effect on commodities. LME nickel will find support at downside of Bollinger brand and SHFE 1705 nickel will move between RMB 83,600-85,200/mt on Friday.
In China’s domestic market, spot nickel should trade at RMB 83,500-85,000/mt on Friday.
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