[brief comment on nickel in SMM] Shanghai nickel plate rose sharply to break through the previous high position of the platform at the beginning of the day.

SMM July 10 News:

Shanghai nickel 1908 opened at 100160 yuan / ton today. At the beginning of the day, bulls increased their positions, and Shanghai nickel rose sharply, pushing up 13160 yuan / ton. Subsequently, Shanghai nickel slightly fell back to 102400 yuan / ton first-line shock adjustment. In the afternoon, Shanghai nickel center of gravity fluctuated around 102000 yuan / ton, closing at 102010 yuan / ton, up 1810 yuan / ton, or 1.8%, from the previous trading day, ranking first among nonferrous metals. Trading volume increased by 261000 hands to 774000 hands, position volume increased by 15200 hands to 121000 hands, and capital inflow was 141 million yuan. Shanghai nickel 1909 contract daily position increased by 157000 to 238000, capital inflow of 171 million yuan, shanghai nickel index today capital inflow of 444 million yuan, ranking first in non-ferrous capital inflow. Throughout the day, the Shanghai nickel 1908 contract ended at the Zhongyang line of the upper film line, fell back after the high level before the platform was first explored, and closed near the upper track of the Boll line, and the Shanghai nickel 1908 contract was predicted to be adjusted at 102000 yuan / ton in the evening.

Tonight, we focused on the monthly rate of wholesale sales in the United States in May and EIA crude oil stocks for the week ended July 5. The incident focused on the testimony of Federal Reserve Chairman Powell (Jerome Powell) on the US semi-annual monetary policy report before the House Finance Committee; Booz (Stephen Poloz), governor of the Bank of Canada, and Wilkins (Carolyn Wilkins), senior deputy governor, held a press conference.