SHFE Nickel to Move at Highs (2017-10-10)-Shanghai Metals Market

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SHFE Nickel to Move at Highs (2017-10-10)

Price Review & Forecast 09:34:09AM Oct 10, 2017 Source:SMM

SHANGHAI, Oct. 10 (SMM) – Nickel producers in Shandong’s Linyi are required to cut output by 50% in the following 4 months, which is more significantly than expected. LME nickel will find solid support from the 60-day moving average today. SHFE 1801 nickel will fluctuate between RMB 87,700-89,000/mt today, with spot prices between RMB 87,600-89,400/mt. 

SHFE Nickel to Move at Highs (2017-10-10)

Price Review & Forecast 09:34:09AM Oct 10, 2017 Source:SMM

SHANGHAI, Oct. 10 (SMM) – Nickel producers in Shandong’s Linyi are required to cut output by 50% in the following 4 months, which is more significantly than expected. LME nickel will find solid support from the 60-day moving average today. SHFE 1801 nickel will fluctuate between RMB 87,700-89,000/mt today, with spot prices between RMB 87,600-89,400/mt.