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

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

iconAug 8, 2017 09:45
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 exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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