LME Nickel to Fluctuate at Highs (2017-6-20)-Shanghai Metals Market

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LME Nickel to Fluctuate at Highs (2017-6-20)

Price Review & Forecast 09:38:46AM Jun 20, 2017 Source:SMM

SHANGHAI, Jun. 20 (SMM) – The People’s Bank of China executed RMB 120 billion in reverse repurchase on Monday, with both stocks and bond rising. Prices for domestic NPI and stainless steel rallied, incentivizing production at stainless steel plants.LME nickel will consolidate at highs today, and SHFE 1709 nickel should hover between RMB 73,900-75,200/mt, with spot prices between RMB 73,200-75,800/mt. 

LME Nickel to Fluctuate at Highs (2017-6-20)

Price Review & Forecast 09:38:46AM Jun 20, 2017 Source:SMM

SHANGHAI, Jun. 20 (SMM) – The People’s Bank of China executed RMB 120 billion in reverse repurchase on Monday, with both stocks and bond rising. Prices for domestic NPI and stainless steel rallied, incentivizing production at stainless steel plants.LME nickel will consolidate at highs today, and SHFE 1709 nickel should hover between RMB 73,900-75,200/mt, with spot prices between RMB 73,200-75,800/mt.