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Home / Metal News / LME Nickel to Test USD 9,000/mt (2017-5-5)

LME Nickel to Test USD 9,000/mt (2017-5-5)

May 5, 2017 09:15

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.

nickel prices

LME nickel prices

SHFE nickel prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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LME Nickel to Test USD 9,000/mt (2017-5-5)

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