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LME Nickel to Test USD 9,000/mt (2017-5-5)
May 5, 2017 09:15Source:SMM
Ferrous metals and crude oil plunged.
SHANGHAI, May 5 (SMM) – Ferrous metals and crude oil plunged. Gold slumped, and the US dollar fell below 99. Market bearishness prevailed in the market. The market will remain reticent before the release of US non-farm employment data. Nickel supply and demand are both weak.LME nickel will test USD 9,000/mt today, and SHFE 1709 nickel should hover between RMB 75,000-76,300/mt, with spot prices between RMB 73,600-77,000/mt.
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