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LME Nickel to See Range-Bound Trading (2017-7-5)
Jul 5, 2017 09:26Source:SMM
LME nickel will see range-bound trading on Wednesday and SHFE 1709 nickel will fluctuate at RMB 74,700-75,900/mt.
SHANGHAIM, Jul. 5 (SMM) – US dollar index drops while gold advances due to geopolitical tension. US’s crude oil output growth slows down, and falling drillings support crude oil price to stay firm. Attention should be on composite PMIs from China, Europe and US on Wednesday. Indonesia allows PT Ceria Nugraha Indotama to export 2.3 million mt of nickel ores before July 2018, easing supply. LME nickel will see range-bound trading on Wednesday and SHFE 1709 nickel will fluctuate at RMB 74,700-75,900/mt. Spot nickel should trade at RMB 74,400-76,800/mt in China’s market.
SHFE nickel
LME nickel
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Related news
Summary of LME Nickel Trading Activity in June 2017
A monthly summary of LME Nickel trading activity for June this year is provided below.
Jul 14, 2017 20:31
SHFE Nickel Finishes Higher (2017-4-6)
SHFE 1709 nickel opened at RMB 86,560/mt and ended at RMB 86,440/mt, up RMB 740/mt or 0.86%.
Apr 6, 2017 17:40
SHFE Nickel Prices Up 0.79% (2017-3-2)
SHFE 1705 nickel opened at RMB 91,440/mt and closed at RMB 91,150/mt, up RMB 710/mt or 0.79%.
Mar 2, 2017 17:27
SHFE Nickel Closes with Gains (2017-3-1)
SHFE 1705 nickel opened at RMB 90,920/mt and ended at RMB 91,090/mt, up 0.19%
Mar 1, 2017 17:07
SHFE Nickel to Hover at highs (2017-2-21)
Growth of LME nickel will slow down on Tuesday and SHFE 1705 nickel will hover at RMB 91,600-93,100/mt.
Feb 21, 2017 09:31
SHFE Nickel Closes with Losses (2017-2-3)
SHFE 1705 nickel started at RMB 85,800/mt and closed at RMB 84,690/mt.
Feb 3, 2017 18:04
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