LME Nickel Price to Stay Range-Bound (2017-6-30)-Shanghai Metals Market

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LME Nickel Price to Stay Range-Bound (2017-6-30)

Price Review & Forecast 09:39:32AM Jun 30, 2017 Source:SMM

SHANGHAI, Jun. 30 (SMM) – The US dollar slumped. Lybia oil output hit the highest in 4 years, pushing down NYMEX August oil prices. But oil held strong. China’s official PMI in June slated for release today is expected to slow, but remain on the rise. LME nickel will remain range-bound today, and SHFE 1709 nickel should hover between RMB 75,900-77,000/mt, with spot prices between RMB 75,000-77,600/mt.

 

LME Nickel Price to Stay Range-Bound (2017-6-30)

Price Review & Forecast 09:39:32AM Jun 30, 2017 Source:SMM

SHANGHAI, Jun. 30 (SMM) – The US dollar slumped. Lybia oil output hit the highest in 4 years, pushing down NYMEX August oil prices. But oil held strong. China’s official PMI in June slated for release today is expected to slow, but remain on the rise. LME nickel will remain range-bound today, and SHFE 1709 nickel should hover between RMB 75,900-77,000/mt, with spot prices between RMB 75,000-77,600/mt.