LME Nickel to See Corrections (2017-4-28)

Published: Apr 28, 2017 09:14

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European Central Bank left rate unchanged. US March core durable goods orders slid.

SHANGHAI, Apr. 28 (SMM) – European Central Bank left rate unchanged. US March core durable goods orders slid. The Philippines forbid open pit mining operation, boosting nickel futures. But nickel futures will unlikely rise significantly given expectations of sufficient nickel ore supply and limited improvement in downstream demand. LME nickel will meet pressure from the 5-day moving average today, and SHFE 1709 nickel should hover between RMB 77,500-79,000/mt, with spot prices between RMB 76,000-79,000/mt.

nickel prices LME nickel prices SHFE nickel prices

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