LME Nickel to Stay at Current Level (2017-6-5)-Shanghai Metals Market

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LME Nickel to Stay at Current Level (2017-6-5)

Price Review & Forecast 09:45:18AM Jun 05, 2017 Source:SMM

SHANGHAI, Jun. 5 (SMM) – US durable goods orders in April, Markit’s final service and composite PMI for US  and the LMCI in the US for May will be released today. If these data weaken, the US dollar will fall. Chinese yuan fell after surging, with liquidity tightness easing.LME nickel will remain at current level today, and SHFE 1709 nickel should hover between RMB 72,500-73,700/mt, with spot prices between RMB 71,500-74,200/mt. 

LME Nickel to Stay at Current Level (2017-6-5)

Price Review & Forecast 09:45:18AM Jun 05, 2017 Source:SMM

SHANGHAI, Jun. 5 (SMM) – US durable goods orders in April, Markit’s final service and composite PMI for US  and the LMCI in the US for May will be released today. If these data weaken, the US dollar will fall. Chinese yuan fell after surging, with liquidity tightness easing.LME nickel will remain at current level today, and SHFE 1709 nickel should hover between RMB 72,500-73,700/mt, with spot prices between RMB 71,500-74,200/mt.