LME Nickel to Fluctuate at High Levels (2017-6-23)-Shanghai Metals Market

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LME Nickel to Fluctuate at High Levels (2017-6-23)

Price Review & Forecast 09:33:52AM Jun 23, 2017 Source:SMM

SHANGHAI, Jun. 23 (SMM) – Saudi Arabia hopes to lift oil prices to USD 60/mt. NYMEX August oil broke through USD 43/bbl, but still met pressure from moving average.The number of initial jobless claims rose slightly, but remained below 300,000 for 120 weeks in a row, presenting US labor force remained tight and labor market is close to adequate. LME nickel will hover at highs today, and SHFE 1709 nickel should hover between RMB 74,300-75,500/mt, with spot prices between RMB 73,600-76,000/mt. 

LME Nickel to Fluctuate at High Levels (2017-6-23)

Price Review & Forecast 09:33:52AM Jun 23, 2017 Source:SMM

SHANGHAI, Jun. 23 (SMM) – Saudi Arabia hopes to lift oil prices to USD 60/mt. NYMEX August oil broke through USD 43/bbl, but still met pressure from moving average.The number of initial jobless claims rose slightly, but remained below 300,000 for 120 weeks in a row, presenting US labor force remained tight and labor market is close to adequate. LME nickel will hover at highs today, and SHFE 1709 nickel should hover between RMB 74,300-75,500/mt, with spot prices between RMB 73,600-76,000/mt.