LME Nickel to Drop, SMM Predicts-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • Air pollution
  • Zinc
  • Copper
  • Aluminium
  • Market commentary
  • nickel laterite
  • hydrogenation stations
  • Production data
  • Nickel ore
  • Futures movement
  • Nickel
  • Macroeconomics
  • In the United States
  • Morning comments

LME Nickel to Drop, SMM Predicts

SMM Insight 02:04:07PM Jul 24, 2017 Source:SMM

SHANGHAI, Jul. 24 (SMM) – SHFE nickel outperformed LME nickel last week, with bigger gains, and what’s outlook for nickel market this week?

Last week, LME nickel closed the week up 0.37%, while SHFE 1709 nickel finished 2.60% higher, according to SMM data. 

Nickel Inventories Fall in Bonded Area, SMM Reports

“Nickel market is expected to fall back this week amid profit-taking by longs, but will be supported by positive technical indicators,” SMM nickel analyst says. 

LME nickel is expected to trade between $9,450-9,700 per tonne this week, SMM projects. 

Last week, trading sentiment in the imported nickel market improved with the opening of profitable import window, with premiums up, SMM data showed. 

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.
 

LME Nickel to Drop, SMM Predicts

SMM Insight 02:04:07PM Jul 24, 2017 Source:SMM

SHANGHAI, Jul. 24 (SMM) – SHFE nickel outperformed LME nickel last week, with bigger gains, and what’s outlook for nickel market this week?

Last week, LME nickel closed the week up 0.37%, while SHFE 1709 nickel finished 2.60% higher, according to SMM data. 

Nickel Inventories Fall in Bonded Area, SMM Reports

“Nickel market is expected to fall back this week amid profit-taking by longs, but will be supported by positive technical indicators,” SMM nickel analyst says. 

LME nickel is expected to trade between $9,450-9,700 per tonne this week, SMM projects. 

Last week, trading sentiment in the imported nickel market improved with the opening of profitable import window, with premiums up, SMM data showed. 

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.