[SMM Nickel Morning] Macro-environment tends to rise slightly or slowly-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Inventory data
  • Rare earth
  • Copper scrap
  • Copper
  • Market commentary
  • SMM
  • Morning comments
  • Evening comments
  • Aluminium
  • MMi Iron Ore Port Index
  • Cobalt
  • Futures movement
  • price forecast
  • Environmental protection drive

[SMM Nickel Morning] Macro-environment tends to rise slightly or slowly

Translation 08:42:43AM Jul 13, 2018 Source:Shanghai Nonferrous Metals Network

SMM, July 13 / PRNewswire-FirstCall-Asianet /-Nightnightly Lenny Nickel Asia Open at US $13945 / ton. Although nickel prices are greatly affected by macro-negative sentiment, but the panic gradually released, and the domestic supply and demand side is strong, supporting nickel prices. At the beginning of the session, Lun nickel rose sharply to $14252 a tonne after a brief slight pullback along the daily moving average, and the pressure above it fell back to $14300 a tonne. Then again concussion upward, touch high 14277 US dollars / ton, rise kinetic energy is insufficient, continue to bear pressure 14300 US dollars / ton mark. After a brief consolidation, Lun Nickel continued to explore, touching a high of $14410 / ton, pressure of $14500 / ton, the shock fell back near the daily average. Entering the European period, Lun Ni continued to rush high after a narrow fluctuation around the daily moving average. after a brief consolidation around US $14325 / ton, the shock leaked to US $14125 / ton due to lack of power. In the evening, Lun Ni fluctuates in a narrow range around the daily average. Trading closed at $14245 a tonne, with volume down 459 to 12730, positions down 3578 to 250000 and inventories up 510tonnes to 263730 tonnes.

Overnight the dollar rallied and fell, then rose back, nearing the 95 mark. Affected by the fall in the US dollar and the digestion of trade war worries, basic metals generally rebounded. Favored by investors, low-priced buying profits led nickel futures up more than 2 per cent to a one-week high. Nickel price growth is expected to slow in the short term, but the overall focus will continue to move up and continue to focus on the macro situation and US data during the day. Nickel prices are expected to fluctuate in the range of $14,200 to $14,400 per tonne. Shanghai nickel main contract 1809 operation range 113,000 ≤ 114,500 yuan / ton, spot price 112800 ≤ 114,300 yuan / ton.

(Shanghai Colored Network Duan Chunjing TEL:021-51666896 QQ:2880505538)

[SMM Nickel Morning] Macro-environment tends to rise slightly or slowly

Translation 08:42:43AM Jul 13, 2018 Source:Shanghai Nonferrous Metals Network

SMM, July 13 / PRNewswire-FirstCall-Asianet /-Nightnightly Lenny Nickel Asia Open at US $13945 / ton. Although nickel prices are greatly affected by macro-negative sentiment, but the panic gradually released, and the domestic supply and demand side is strong, supporting nickel prices. At the beginning of the session, Lun nickel rose sharply to $14252 a tonne after a brief slight pullback along the daily moving average, and the pressure above it fell back to $14300 a tonne. Then again concussion upward, touch high 14277 US dollars / ton, rise kinetic energy is insufficient, continue to bear pressure 14300 US dollars / ton mark. After a brief consolidation, Lun Nickel continued to explore, touching a high of $14410 / ton, pressure of $14500 / ton, the shock fell back near the daily average. Entering the European period, Lun Ni continued to rush high after a narrow fluctuation around the daily moving average. after a brief consolidation around US $14325 / ton, the shock leaked to US $14125 / ton due to lack of power. In the evening, Lun Ni fluctuates in a narrow range around the daily average. Trading closed at $14245 a tonne, with volume down 459 to 12730, positions down 3578 to 250000 and inventories up 510tonnes to 263730 tonnes.

Overnight the dollar rallied and fell, then rose back, nearing the 95 mark. Affected by the fall in the US dollar and the digestion of trade war worries, basic metals generally rebounded. Favored by investors, low-priced buying profits led nickel futures up more than 2 per cent to a one-week high. Nickel price growth is expected to slow in the short term, but the overall focus will continue to move up and continue to focus on the macro situation and US data during the day. Nickel prices are expected to fluctuate in the range of $14,200 to $14,400 per tonne. Shanghai nickel main contract 1809 operation range 113,000 ≤ 114,500 yuan / ton, spot price 112800 ≤ 114,300 yuan / ton.

(Shanghai Colored Network Duan Chunjing TEL:021-51666896 QQ:2880505538)