LME Nickel Price to Move Sideways (2017-7-13)

SHANGHAI, Jul. 13 (SMM) –Fed Chair Janet Yellen expressed uncertainty of inflation at hearing, saying room for interest rate hike is limited in the near term. This will give support to nickel futures. But with growing LME nickel inventories, LME nickel will move above USD 9,150/mt today. SHFE 1709 nickel should hover between RMB 75,500-76,500/mt, with spot prices between RMB 75,000-77,600/mt.