LME Nickel to See Range-Bound Trading (2017-6-14)-Shanghai Metals Market

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LME Nickel to See Range-Bound Trading (2017-6-14)

Price Review & Forecast 09:18:21AM Jun 14, 2017 Source:SMM

SHANGHAI, Jun. 14 (SMM) – API’s oil inventories in the US increased for the week ending June 9, pushing down NYMEX July oil prices below USD 46/bbl. The US dollar weakened recently. Fixed-asset investment in China during January-May in cities and towns, consumer goods retails and value-added at China’s large industrials for May due for release today are expected to fall.

LME nickel will stay range-bound today, and SHFE 1709 nickel should hover between RMB 71,500-73,000/mt, with spot prices between RMB 71,000-74,000/mt. 

LME Nickel to See Range-Bound Trading (2017-6-14)

Price Review & Forecast 09:18:21AM Jun 14, 2017 Source:SMM

SHANGHAI, Jun. 14 (SMM) – API’s oil inventories in the US increased for the week ending June 9, pushing down NYMEX July oil prices below USD 46/bbl. The US dollar weakened recently. Fixed-asset investment in China during January-May in cities and towns, consumer goods retails and value-added at China’s large industrials for May due for release today are expected to fall.

LME nickel will stay range-bound today, and SHFE 1709 nickel should hover between RMB 71,500-73,000/mt, with spot prices between RMB 71,000-74,000/mt.