SHFE 1801 Nickel Prices to Move above 5-day Moving Average (2017-8-25)

SHANGHAI, Aug. 25 (SMM) – US annualized existing home sales fell short of market expectations in July. The hurricane affected major energy producing regions in the US. Gasoline prices were up while crude oil prices dropped. LME nickel will find support from the 5-day moving average today, and SHFE 1801 nickel should hover between RMB 93,500-95,000/mt, with spot prices between RMB 92,350-93,500/mt.