LME Nickel to Fluctuate at Highs (2017-6-15)-Shanghai Metals Market

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LME Nickel to Fluctuate at Highs (2017-6-15)

Price Review & Forecast 09:26:31AM Jun 15, 2017 Source:SMM

SHANGHAI, Jun. 15 (SMM) – The Fed raised interest rate by 25 basis points as expected, and may hike rate for one time for the remainder of the year. It announced to dial back balance sheet. Janet Yellen expects US economy to grow mildly and may reduce balance sheet earlier. Inflation still has conditions to rise. The US dollar rallied. EIA’s oil inventories in the US decreased less significantly than expected last week, and gasoline inventories grew for 2 weeks in a row, pushing down NYMEX July oil prices. LME nickel will stay high today, and SHFE 1709 nickel should hover between RMB 72,400-73,600/mt, with spot prices between RMB 71,500-74,400/mt. 

LME Nickel to Fluctuate at Highs (2017-6-15)

Price Review & Forecast 09:26:31AM Jun 15, 2017 Source:SMM

SHANGHAI, Jun. 15 (SMM) – The Fed raised interest rate by 25 basis points as expected, and may hike rate for one time for the remainder of the year. It announced to dial back balance sheet. Janet Yellen expects US economy to grow mildly and may reduce balance sheet earlier. Inflation still has conditions to rise. The US dollar rallied. EIA’s oil inventories in the US decreased less significantly than expected last week, and gasoline inventories grew for 2 weeks in a row, pushing down NYMEX July oil prices. LME nickel will stay high today, and SHFE 1709 nickel should hover between RMB 72,400-73,600/mt, with spot prices between RMB 71,500-74,400/mt.