[brief comment on nickel in SMM] Shanghai nickel leads the rise to a new high in 3 months

SMM, July 11 / PRNewswire-Asianet /-

Shanghai nickel 1908 opened today at 102250 yuan / ton, at the beginning of the day, the pressure of 103000 yuan / ton first-line small consolidation. In the afternoon, bulls increased their positions, and Shanghai nickel fluctuated all the way up, touching 103660 yuan per ton, the highest level in nearly three months, and finally closing at 103560 yuan per ton, up 2250 yuan per ton, or 2.22 percent, from the previous trading day, ranking first among the nonferrous metal increases. Position increased by 15800 to 137000, while trading volume decreased by 151000 to 623000. Shanghai Ni 1909 increased its position by 13700 to 17000 hands, and Shanghai Ni increased its position by 20000 to 16600 on 1910. Shanghai nickel index inflows of 490 million yuan today, the first non-ferrous capital inflows. Shanghai nickel main contract 1908 today closed on the Boll line above the rail, closed at the small positive line, below several EMA support, forming an upward trend, there is no other resistance above, Shanghai nickel 103000 to 104000 yuan / ton range is expected to operate in the evening.

EIA gas inventory data for the week ended July 5 (100 million cubic feet) were watched tonight; Federal Reserve Chairman Powell (Jerome Powell) gave testimony to the U.S. Semi-annual monetary policy report before the Senate Finance Committee.