LME Nickel to Fluctuate at Current Level (2017-6-1)-Shanghai Metals Market

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LME Nickel to Fluctuate at Current Level (2017-6-1)

Price Review & Forecast 09:30:00AM Jun 01, 2017 Source:SMM

SHANGHAI, Jun. 1 (SMM) – China’s liquidity will remain tight. API crude oil inventories in the US for the week ending May 26 dropped most significantly from September 2016, leaving NYMEX oil prices strong. LME nickel will stay range-bound today, and SHFE 1709 nickel should hover between RMB 72,700-74,000/mt, with spot prices between RMB 72,000-74,500/mt. 

LME Nickel to Fluctuate at Current Level (2017-6-1)

Price Review & Forecast 09:30:00AM Jun 01, 2017 Source:SMM

SHANGHAI, Jun. 1 (SMM) – China’s liquidity will remain tight. API crude oil inventories in the US for the week ending May 26 dropped most significantly from September 2016, leaving NYMEX oil prices strong. LME nickel will stay range-bound today, and SHFE 1709 nickel should hover between RMB 72,700-74,000/mt, with spot prices between RMB 72,000-74,500/mt.