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[brief comment on nickel in SMM] the nickel rally in Shanghai is close to the 110000 yuan / ton mark.
Jul 16,2019 17:01CST
The content below was translated by Tencent automatically for reference.

SMM, July 16 / PRNewswire-Asianet /-

Shanghai nickel 1909 opened today at 106830 yuan / ton, before noon, supported by the daily average concussion upward, near the end of the afternoon, at 108000 yuan / ton gate narrow range shock. In the afternoon, bulls continued to increase positions, Shanghai nickel continued to pull up, breaking 109000 yuan / ton, touching 109890 yuan / ton, followed by 109600 yuan / ton first-line shock finishing, closing at 109640 yuan / ton, up 4130 yuan / ton, or 3.91%, the first increase in nonferrous metal, trading volume increased by 71200 hands to 316000 hands, and position volume increased by 10300 hands to 191000 hands. Today, the Shanghai nickel 1908 contract closed at 109460 yuan per ton, up 4270 yuan, or 4.06 percent, from the previous day's settlement price, and trading volume increased by 172000 hands to 905000 hands. Shanghai nickel index today inflows 278 million yuan, ranking first in the inflow of non-ferrous funds. Throughout the day, the Shanghai nickel 1909 closed at the Zhongyang line, running above the Boll line, paying attention to whether the Shanghai nickel continued to rise at the 110000 yuan / ton mark in the evening. This evening looked at the monthly rate of US business inventories in May, the monthly rate of retail sales in June, the monthly rate of import price index in June and the monthly rate of industrial output in June, and the NAHB housing market index in July.


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