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SHFE Nickel to Fluctuate at Lows (2017-4-12)
Apr 12, 2017 09:31Source:SMM
Nickel prices declined below all the moving averages on Tuesday’s night trading and will fluctuate at lows on Wednesday. SHFE 1709 nickel will move at RMB 82,000-83,000/mt.
SHANGHAI, Apr. 12 (SMM) – Nickel ore shipments increase sharply recently while downstream steel mills have high inventories, weakening fundamentals. Nickel prices declined below all the moving averages on Tuesday’s night trading and will fluctuate at lows on Wednesday. SHFE 1709 nickel will move at RMB 82,000-83,000/mt.
In China’s domestic market, spot nickel should trade at RMB 81,000-82,000/mt on Wednesday.
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