Base Metals Fall after China Data, with SHFE Nickel Plunging 4.3%, SMM Reports

Published: Sep 14, 2017 14:31

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Base metals prices mostly fell today after the release of Chinese economic indicators most of which were downbeat, SMM reported.

SHANGHAI, Sept. 14 (SMM) – Base metals prices mostly fell today after the release of Chinese economic indicators most of which were downbeat, SMM reported.

As of 2:02 pm, SHFE 1801 nickel slumped 4.3%, and SHFE copper continued falling by 1.6%.

NBS: China 10 Nonferrous Metals Output Falls in August

Nickel price will face downward risk and fall to $11,000 per tonne in September, SMM predicts.

Climate Index for China Nonferrous Metals Industry Down in August

Steel scrap purchases by stainless steel plants are expected to return to normal in mid-to-late September. Meanwhile, stainless steel shipments by Tsingshan Group from Indonesia back to China will constrain gains in China’s stainless steel prices, SMM explained.

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