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Home / Metal News / SHFE Nickel to Face Downward Pressure (2017-8-1)

SHFE Nickel to Face Downward Pressure (2017-8-1)

Aug 1, 2017 09:27

Source:SMM

Anthony Scaramucci has been removed as White House communications director, pushing down the US dollar to 92.767.

SHANGHAI, Aug. 1 (SMM) – Anthony Scaramucci has been removed as White House communications director, pushing down the US dollar to 92.767. Crude oil prices rose. Longs on SHFE nickel closed positions actively, weighing down nickel prices. SHFE nickel faces downward pressure after continuous gains. LME nickel will move above USD 10,150/mt today, and SHFE 1709 nickel should hover between RMB 82,000-83,200/mt, with spot prices between RMB 82,200-84,200/mt.

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LME nickel prices

SHFE nickel prices

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SHFE 1701 nickel started at RMB 78,380/mt and closed at RMB 78,570/mt, down 0.15%.

Aug 29, 2016 17:46

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SHFE Nickel to Face Downward Pressure (2017-8-1)

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