LME Nickel to Stay at Current Level (2017-6-19)-Shanghai Metals Market

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LME Nickel to Stay at Current Level (2017-6-19)

Price Review & Forecast 09:39:59AM Jun 19, 2017 Source:SMM

SHANGHAI, Jun. 19 (SMM) – NYMEX July oil posted a 4-week losing streak, the longest consecutive drop from August 2015, staying below USD 45/bbl. The US dollar rolled back gains. The market will lack solid news today. Inventories at stainless steel plants decreased, with trading inventories down to normal levels.LME nickel will consolidate at current levels today, and SHFE 1709 nickel should hover between RMB 73,000-74,100/mt, with spot prices between RMB 72,500-74,700/mt. 

LME Nickel to Stay at Current Level (2017-6-19)

Price Review & Forecast 09:39:59AM Jun 19, 2017 Source:SMM

SHANGHAI, Jun. 19 (SMM) – NYMEX July oil posted a 4-week losing streak, the longest consecutive drop from August 2015, staying below USD 45/bbl. The US dollar rolled back gains. The market will lack solid news today. Inventories at stainless steel plants decreased, with trading inventories down to normal levels.LME nickel will consolidate at current levels today, and SHFE 1709 nickel should hover between RMB 73,000-74,100/mt, with spot prices between RMB 72,500-74,700/mt.