LME Nickel Price to Fluctuate at Highs (2017-6-29)

Published: Jun 29, 2017 09:44

Save

EIA gasoline inventories for the US have been falling for two weeks on end, boosting oil prices.

SHANGHAI, Jun. 29 (SMM) – EIA gasoline inventories for the US have been falling for two weeks on end, boosting oil prices. Brent oil prices returned to USD 47/bbl, and NYMEX August oil prices reached nearly USD 48/bbl. European Central Bank President said inflation reverted to deflation, Bank of UK President said it is necessary to remove some stimulus measures, driving up the pound whilst pushing down the US dollar below 96 at one point. LME nickel will hover at highs today, and SHFE 1709 nickel should hover between RMB 75,500-76,700/mt, with spot prices between RMB 75,000-77,700/mt.

nickel prices LME nickel prices SHFE nickel prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

18 hours ago

[SMM Analysis] Influenced by macro sentiment, MHP and high-grade nickel matte prices declined this week.

Affected by macro sentiment, MHP and high-grade nickel matte prices declined this week.

18 hours ago

[SMM Analysis] The market experienced panic selling this week, and nickel prices plummeted.

18 hours ago

Data: SHFE, DCE market movement (Feb 06)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 06 Feb , 2026

18 hours ago