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Home / Metal News / SHFE Nickel to Finish Higher (2017-3-29)

SHFE Nickel to Finish Higher (2017-3-29)

Mar 29, 2017 09:53

Source:SMM

LME nickel will fluctuate at around USD 10,000/mt and SHFE 1705 nickel will fluctuate between RMB 81,900-83,500/mt.

SHANGHAI, Mar. 29 (SMM) – US’s Federal Reserve Vice Chair indicated that it is profitable to raise rate for two times in 2017, sending base metals up. OPEC is likely to extend oil output cut, allowing crude oil to advance. LME nickel will fluctuate at around USD 10,000/mt on Wednesday with support at the 5-day moving average. SHFE 1705 nickel will increase on Wednesday and will fluctuate between RMB 81,900-83,500/mt.

In China’s domestic market, spot nickel should trade at RMB 81,600-83,600/mt on Wednesday.

SHFE nickel

LME nickel

nickel prices

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SHFE Nickel Finishes with Losses (2017-3-23)

SHFE 1705 nickel opened at RMB 83,200/mt and ended at RMB 82,990/mt, down RMB 580/mt or 0.69%.

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LME Nickel to Move at Lows (2017-3-22)

LME nickel is expected to fluctuate at lows on Wednesday and SHFE 1705 nickel will move at RMB 83,200-84,600/mt.

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SMM Comments

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LME nickel will meet strong pressure at the 10-day moving average on Monday and SHFE 1705 nickel will move at RMB 84,000-85,600/mt.

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SMM Comments

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SMM Comments

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SHFE 1705 nickel started at RMB 96,150/mt and finally closed at RMB 96,130/mt, up 0.46%.

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SMM Comments

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SMM Comments

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SMM Comments

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