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Home / Metal News / LME Nickel to Lack Ability to Rise (2017-5-8)

LME Nickel to Lack Ability to Rise (2017-5-8)

May 8, 2017 09:44

Emmanuel Macron won French presidential election. The euro rose at first and then dropped, and the US dollar rebounded.

SHANGHAI, May 8 (SMM) – Emmanuel Macron won French presidential election. The euro rose at first and then dropped, and the US dollar rebounded. Gold prices fell. LME nickel rallied overnight, and will lack ability to rise today, and SHFE 1709 nickel should hover between RMB 75,800-77,200/mt, with spot prices between RMB 74,500-77,800/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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Sluggish US inflation will depressed amrekt expectations that the Fed will raise interest rate further this year, positively affecting the US dollar.

Jul 17, 2017 09:40

SMM Comments

LME Nickel Price to Fluctuate at Highs (2017-7-17)

LME Nickel Price to Move at Lows (2017-7-10)

Baker Hughes rig count for the week ending July 7 grew further.

Jul 10, 2017 09:47

SMM Comments

LME Nickel Price to Move at Lows (2017-7-10)

SHFE 1709 Nickel Finishes Higher (2017-7-4)

SHFE 1709 nickel opened at RMB 76,710/mt today, and touched RMB 76,730/mt.

Jul 4, 2017 17:59

SMM Comments

SHFE 1709 Nickel Finishes Higher (2017-7-4)

SHFE 1709 Nickel Closes Higher (2017-6-30)

SHFE 1709 nickel opened at RMB 76,460/mt today, and followed a “V” curve in the morning, dipping to RMB 75,810/mt and then stabilizing.

Jun 30, 2017 19:38

SMM Comments

SHFE 1709 Nickel Closes Higher (2017-6-30)

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The US dollar slumped. Lybia oil output hit the highest in 4 years, pushing down NYMEX August oil prices.

Jun 30, 2017 09:39

SMM Comments

LME Nickel Price to Stay Range-Bound (2017-6-30)

None Chinese Market Players Optimistic toward Nickel, SMM Surveys

SMM surveyed 30 market participants to find that 5 are bullish toward nickel price this week, 19 are neutral and 11 are bearish.

Sep 13, 2016 11:50

SMM Comments

Shanghai Spot Nickel to Rise (2016-9-7)

US August ISM non-manufacturing PMI and LMCI fell short of market expectations, reducing the likelihood of a Fed rate hike in September.

Sep 7, 2016 09:50

SMM Comments

SHFE Nickel Prices Off 0.64% (2016-8-31)

SHFE 1701 nickel started at RMB 78,490/mt and ended at RMB 78,060/mt, down 0.64%.

Aug 31, 2016 16:30

SMM Comments

Shanghai Spot Nickel to Slump (2016-5-13)

The US dollar index returned to upward track.

May 13, 2016 09:23

SMM Comments

SHFE Nickel Registers Losses (April 26, 2016)

SHFE 1609 nickel started at RMB 71,910/mt overnight and ranged between RMB 71,350-72,210/mt before ending at RMB 71,860/mt.

Apr 26, 2016 17:45

SMM Comments

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LME Nickel to Lack Ability to Rise (2017-5-8)

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