SHFE 1801 Nickel to Find Support from Macroeconomic News (2017-8-8)

Published: Aug 8, 2017 09:45

Save

The market will lack solid news today.

SHANGHAI, Aug. 8 (SMM) – The market will lack solid news today. MINAVIDA MINING’s newly developed mine will deliver goods, with output expected to be 6 million mt per year. China’s forex reserves added USD 23.93 in July, rising for 6 months in a row for the first time since June 2014. With positive macroeconomic front, LME nickel will move at highs above USD 10,300/mt today, and SHFE 1801 nickel should hover between RMB 84,600-85,600/mt, with spot prices between RMB 83,100-85,400/mt.

nickel prices LME nickel prices SHFE nickel prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

6 hours ago

[SMM Analysis] Weak Nickel Caps Chinese Stainless Steel Futures in a Tight Range as Mill Price Discipline

SMM Weekly Stainless Steel Futures Review — week of June 29 – July 3, 2026. Weak nickel and a softening off-season demand backdrop offset firm mill pricing and low inventories, steadying the benchmark contract near RMB 14,655/mt

6 hours ago

[SMM Analysis] Nickel and Cobalt Salt Prices Weak; Intermediate Product Payables Under Pressure

6 hours ago

7 hours ago

[SMM Analysis] Indonesia's nickel ore HMA sharply cut by 7.6%, high inventories in China and Indonesia suppress nickel ore market sentiment

7 hours ago