LME Nickel to Weaken (2017-6-2)-Shanghai Metals Market

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LME Nickel to Weaken (2017-6-2)

Price Review & Forecast 09:39:11AM Jun 02, 2017 Source:SMM

SHANGHAI, Jun. 2 (SMM) – OPEC crude oil output increased MoM in May. OPEC members that were exempt from output cut reported big growth in oil production, with NYMEX oil prices moving at lows. Offshore yuan strengthened. LME nickel will weaken today, and SHFE 1709 nickel should hover between RMB 71,700-73,100/mt, with spot prices between RMB 71,200-73,700/mt. 

LME Nickel to Weaken (2017-6-2)

Price Review & Forecast 09:39:11AM Jun 02, 2017 Source:SMM

SHANGHAI, Jun. 2 (SMM) – OPEC crude oil output increased MoM in May. OPEC members that were exempt from output cut reported big growth in oil production, with NYMEX oil prices moving at lows. Offshore yuan strengthened. LME nickel will weaken today, and SHFE 1709 nickel should hover between RMB 71,700-73,100/mt, with spot prices between RMB 71,200-73,700/mt.