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Home / Metal News / LME Nickel to Stay Range-Bound (2017-5-10)

LME Nickel to Stay Range-Bound (2017-5-10)

May 10, 2017 09:13

Source:SMM

API’s crude oil inventories for the US unexpectedly decreased 5.80 million barrels, helping slow oil price declines.

SHANGHAI, May 10 (SMM) – API’s crude oil inventories for the US unexpectedly decreased 5.80 million barrels, helping slow oil price declines. Nickel ore prices weakened, and may incentivize NPI production. LME nickel should remain range-bound today, and SHFE 1709 nickel should hover between RMB 76,200-77,600/mt, with spot prices between RMB 74,900-78,300/mt.

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LME nickel prices

SHFE nickel prices

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Mar 30, 2016 14:08

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SHFE Nickel Closes with Small Gains (Mar. 29, 2016)

SHFE 1605 nickel started at RMB 68,180/mt overnight and then narrowly ranged RMB 68,100-68,300/mt.

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SMM Comments

Chinese Stainless Steel Mills Increase Nickel Plate Purchases, SMM Reports

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Prices for low-grade NPI rose 10 yuan on Mar. 21 in China’s domestic spot market, according to SMM data.

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Shanghai Spot Nickel Prices to Climb (2016-2-22)

LME nickel is expected to maintain upward momentum on news that the Philippines will reduce nickel ore supply.

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Shanghai Spot Nickel Prices to Remain Firm (2016-2-19)

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SHFE Nickel Ends Up 1.66% (Jan. 18, 2016)

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SMM Comments

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SMM Comments

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LME Nickel to Stay Range-Bound (2017-5-10)

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