LME Nickel to Fluctuate at Low Level (2017-6-8)

SHANGHAI, Jun. 8 (SMM) – NYMEX oil slumped 5% as inventories surged. The US dollar fluctuated widely. The stainless steel industry entered low-demand season, adding to finished product inventory pressure at stainless steel plants.

LME nickel will fluctuate at lows today, and SHFE 1709 nickel should hover between RMB 71,900-73,200/mt, with spot prices between RMB 71,200-73,900/mt.