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

Published: Aug 8, 2017 09:45

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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

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