LME Nickel to Remain Strong (2017-9-29)-Shanghai Metals Market

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LME Nickel to Remain Strong (2017-9-29)

Price Review & Forecast 09:41:38AM Sep 29, 2017 Source:SMM

SHANGHAI, Sept. 29 (SMM) – Base metals rose due to expectations that China’s economy is growing steadily and progress of US tax reform. Gold edged up overnight. It was reported Tsingshan Group entered trial production at the plate caster of its second 1 million mt per annum of stainless steel project in Indonesia, boding well for nickel price. LME nickel will remain strong today. SHFE 1801 nickel will fluctuate between RMB 84,300-85,600/mt today, with spot prices between RMB 84,400-86,300/mt. 

LME Nickel to Remain Strong (2017-9-29)

Price Review & Forecast 09:41:38AM Sep 29, 2017 Source:SMM

SHANGHAI, Sept. 29 (SMM) – Base metals rose due to expectations that China’s economy is growing steadily and progress of US tax reform. Gold edged up overnight. It was reported Tsingshan Group entered trial production at the plate caster of its second 1 million mt per annum of stainless steel project in Indonesia, boding well for nickel price. LME nickel will remain strong today. SHFE 1801 nickel will fluctuate between RMB 84,300-85,600/mt today, with spot prices between RMB 84,400-86,300/mt.