SHFE Nickel to Hover at Highs (2017-7-27)

SHANGHAI, Jul. 27 (SMM) – FOMC announced to leave interest rate unchanged and will cut balance sheet relatively rapidly, which may start in September at the earliest. The US dollar plunged overnight. LME nickel will test support from USD 10,000/mt today, and SHFE 1709 nickel should hover between RMB 80,500-82,300/mt, with spot prices between RMB 80,500-83,200/mt.