LME Nickel to Fluctuate at Lows (2017-6-13)-Shanghai Metals Market

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LME Nickel to Fluctuate at Lows (2017-6-13)

Price Review & Forecast 09:52:53AM Jun 13, 2017 Source:SMM

SHANGHAI, Jun. 13 (SMM) – US oil inventories appeared to have fallen as Saudi Arabia reduced exports, driving up NYMEX oil prices. OPEC monthly oil market report will be eyed. If output continues rising, oil prices will be weighed down further. US Treasury Secretary said this morning US Treasury Department will receive financing without raising debt ceiling in September, and is confident that US economy will reach a 3% growth. The US dollar stabilized. LME nickel will fluctuate at lows today, and SHFE 1709 nickel should hover between RMB 71,800-73,000/mt, with spot prices between RMB 70,800-74,000/mt. 

LME Nickel to Fluctuate at Lows (2017-6-13)

Price Review & Forecast 09:52:53AM Jun 13, 2017 Source:SMM

SHANGHAI, Jun. 13 (SMM) – US oil inventories appeared to have fallen as Saudi Arabia reduced exports, driving up NYMEX oil prices. OPEC monthly oil market report will be eyed. If output continues rising, oil prices will be weighed down further. US Treasury Secretary said this morning US Treasury Department will receive financing without raising debt ceiling in September, and is confident that US economy will reach a 3% growth. The US dollar stabilized. LME nickel will fluctuate at lows today, and SHFE 1709 nickel should hover between RMB 71,800-73,000/mt, with spot prices between RMB 70,800-74,000/mt.