Home / Metal News / Nickel / [SMM Nickel Morning News] the 5-day moving average above Longhu Nickel is lower.
[SMM Nickel Morning News] the 5-day moving average above Longhu Nickel is lower.
Oct 10,2019 08:54CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, 10 October:

Lunni Asia opened at $17460 a tonne today. Before noon, the center of gravity of Lunni fluctuated slightly around the daily average. at noon, the top pressurized $17500 / tonne horizontal plate. In the afternoon into Europe, LME stocks fell sharply 8898 tons, superimposed dollar index downward impact, Lunni shock upward, explore the 5-day moving average, touch high 17625 US dollars / ton, and then Lunni as a whole in the daily moving average above the narrow range of concussion operation. At night, Lunni reversed its decline, falling below the $173400 / tonne mark, down $17280 / tonne, and then fluctuated slightly at $17300 / tonne, closing at $17340 / tonne, down $110a tonne, or 0.63 per cent, from the settlement price of the previous trading day, with a turnover of 6573 hands and a 3000 increase in positions to 284000 hands. Lunni closed in the small negative line, the top pressure 5-day moving average, the K column fell below the 10 / 20 moving average of $17400 / tonne, today focus on Lunni can hold the $17300 / tonne level.

Overnight Shanghai nickel opened at 137200 yuan / ton, at the beginning of the day, fluctuated slightly near the daily moving average, then, short positions increased, Shanghai nickel shock downward, to 134600 yuan / ton first-line support, the center of gravity around 135000 yuan / ton first-line narrow shock, finally closed at 134780 yuan / ton, compared with the settlement price of the previous trading day fell 1960 yuan / ton, down 1.43%, trading volume 333000 hands, position volume increased 12000 to 309000 hands. Overnight Shanghai nickel closed in the small positive line, the upper 5 / 10 moving average intersection resistance is strong, there is no moving average support near the bottom, today pay attention to whether Shanghai nickel can be stable at 135000 yuan / ton level.

 

[for more information, please subscribe to SMM Nickel Research Group products "China Nickel Chromium stainless Steel Industry chain General report" and "China Nickel Chrome stainless Steel Industry chain High end report" to obtain the latest nickel mine, nickel pig iron (China + Indonesia), electrolytic nickel, nickel sulfate, chromium ore, ferrochromium, stainless steel (China + Indonesia) related data analysis and market analysis! For ordering and trial reading, please call 021-5166 6817 QQ: 2880505562, contact: Li Chuntian]

(TEL:021-5166 6817 QQ: 2880505562)

Shanghai Nickel spot
Nickel Price
trend Forecast
SMM Review
Daily Review
Shanghai Nickel Market Review
Nickel
Futures

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news