SHFE 1709 Nickel Closes Lower (2017-6-1)-Shanghai Metals Market

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SHFE 1709 Nickel Closes Lower (2017-6-1)

Price Review & Forecast 05:12:25PM Jun 01, 2017 Source:SMM

SHANGHAI, Jun. 1 (SMM) – SHFE 1709 nickel opened at RMB 73,600/mt today and then rose to RMB 73,630/mt. Caixin’s manufacturing PMI for China was 49.6 in May, falling below 50 for the first time in 11 months. Consequently, SHFE 1709 nickel slid to RMB 72,950/mt, and recovered some losses, and closed down RMB 890/mt or 1.20%. Trading volumes on SHFE 1709 nickel decreased 38,100 to 310,000, and positions decreased 12,978 to 548,000. SHFE nickel is expected to fluctuate in narrow range this evening. ADP employment for the US in May and the number of initial jobless claims last week will be released this evening. 

SHFE 1709 Nickel Closes Lower (2017-6-1)

Price Review & Forecast 05:12:25PM Jun 01, 2017 Source:SMM

SHANGHAI, Jun. 1 (SMM) – SHFE 1709 nickel opened at RMB 73,600/mt today and then rose to RMB 73,630/mt. Caixin’s manufacturing PMI for China was 49.6 in May, falling below 50 for the first time in 11 months. Consequently, SHFE 1709 nickel slid to RMB 72,950/mt, and recovered some losses, and closed down RMB 890/mt or 1.20%. Trading volumes on SHFE 1709 nickel decreased 38,100 to 310,000, and positions decreased 12,978 to 548,000. SHFE nickel is expected to fluctuate in narrow range this evening. ADP employment for the US in May and the number of initial jobless claims last week will be released this evening.