SMM, June 11 / PRNewswire-Asianet /-
The nickel opened at $11640 a tonne. At the start of the day, it rocked up, touching $11850 a tonne, before falling slightly back to $11760 a tonne. In the middle of the day, the center of gravity of nickel was arranged horizontally around $11760 a tonne. In the afternoon, the nickel fell below the daily average, concussion down, the center of gravity around 11660 US dollars / ton horizontal plate finishing. At night, Lennie rallied upward, under pressure of $11720 / ton first-line shock fell back, gave up all the gains, out of the V character, closed at $11625 / ton. Trading volume increased by 2616 to 8303, positions decreased by 15700 to 246000, and inventories fell by 72 tons to 163896 tons.
Overnight Shanghai nickel opened at 96100 yuan / ton, at the beginning of the plate, the pressure daily average concussion downward, down low 95520 yuan / ton. Subsequently, supported by the downward support of the US dollar, Shanghai nickel rebounded upward, bearing pressure of 96400 yuan / ton first-line shock fell, out of the inverted V character, closed at 95760 yuan / ton.
The dollar recovered slightly yesterday as the US and Mexico reached an agreement to suspend tariffs on Mexican goods indefinitely, while a number of UK economic data underperformed and sterling tumbled and was positive for the dollar. In the UK, the monthly rate of decline in manufacturing output in April was the lowest since June 2002. The monthly rate of industrial output fell in April from the previous month, the lowest since September 2012.
Nickel floated faintly red yesterday, with Shanghai nickel down nearly 0.5 per cent in night trading. It is expected that today's nickel 11600 to 11750 / ton, Shanghai nickel 95500 to 97000 yuan / ton, spot 96500 to 98000 yuan / ton.
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