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[brief comment on nickel in SMM] Shanghai nickel recovered slightly above the 110000 yuan / ton barrier today.
Jul 26,2019 16:33CST
The content below was translated by Tencent automatically for reference.

SMM, July 26 / PRNewswire-Asianet /-

Shanghai nickel 1910 opened today at 109870 yuan / ton, before noon, bulls increased positions, Shanghai nickel concussion rose to 111600 yuan / ton first line pressure, the center of gravity around 111400 yuan / ton concussion finishing. In the afternoon, Shanghai nickel weakened slightly and its center of gravity shifted downward, fluctuating in a narrow range at 111000 yuan per ton, closing at 111240 yuan per ton, down 1320 yuan per ton, or 1.17 percent, from the previous day's settlement price. Position volume decreased by 7200 hands to 336000 hands, and trading volume by 242000 hands to 1.321 million hands. Throughout the day, the Shanghai nickel 1910 contract closed at the Xiaoyang line, above the 5, 10-day moving average cross pressure, Shanghai nickel is expected to bear pressure of 112000 yuan / ton line, in the 110000 yuan / ton pass above the range of concussion operation.

Today, we focus on the initial value of the actual quarterly rate of real GDP in the second quarter and the quarterly rate of actual personal consumption expenditure in the second quarter.


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