Upward Momentum to Weaken for LME Nickel Price (2017-7-19)

Jul 19, 2017 09:55

Stainless steel prices rose rapidly because of strong demand released in advance.

SHANGHAI, Jul. 19 (SMM) – Stainless steel prices rose rapidly because of strong demand released in advance. The US dollar hovers at lows. Any upward momentum for LME nickel will weaken today. SHFE 1709 nickel should hover between RMB 79,000-80,500/mt, with spot prices between RMB 78,400-81,300/mt. US June housing starts and construction permits will be released today.

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LME nickel prices

SHFE nickel prices

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Upward Momentum to Weaken for LME Nickel Price (2017-7-19)

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