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LME Nickel to Stay Range-Bound (2017-5-10)
May 10, 2017 09:13Source: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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