[SMM Nickel Morning News] Nickel in the Night period fell sharply below the 120000 mark in Shanghai Nickel.

Published: Nov 15, 2019 08:54

SMM, 15 November:

Lunni Asia, which opened at $15400 a tonne today, swung upward in the afternoon, with its centre of gravity moving up to $15450 from $15400 at the start of the day. In the afternoon, the shock fell back after touching an intraday high of $15500 / ton, falling below the daily moving average, with the overall center of gravity continuing into Europe at a narrow range of $15400 / ton. At 22: 00 in the evening, Lunni fluctuated sharply, falling $15070 / ton to $15000 / ton, stabilizing, and closing at $15120 / tonne, down $280 / tonne, or 1.82%, from the previous day's settlement price, with a trading volume of 6965 hands and an increase of 3000 positions to 300000 hands. Lunni closed in the small negative line, the top of a number of moving average resistance is obvious, below the Boll line below the rail level, today pay attention to the support of Lunni million integer gate.

Overnight, Shanghai nickel opened at 121310 yuan / ton, and at the beginning of the day, Shanghai nickel fluctuated in a narrow range near the daily average line of 121100 yuan / ton. Subsequently, at 22: 20, short positions increased, Shanghai nickel fell sharply, falling below the 120000 yuan / ton mark, down 118360 yuan / ton, the center of gravity fluctuated slightly around 118700 yuan / ton, and finally closed at 118650 yuan / ton, down 2740 yuan / ton, or 2.26%, from the settlement price of the previous trading day. Trading volume 776000 hands, position increased by 38000 hands to 264000 hands. Overnight Shanghai nickel closed in the small yang line, fell below 120000 yuan / ton gate support and pierced the lower Boll line off the track, there is no other support level, pay attention to the Shanghai nickel integer level of the first line of concussion.

Today we look at the monthly CPI rate for the euro area in October and the final annual rate for CPI in October; the New York Fed manufacturing index for November and the monthly rate of retail sales in the United States for October.

 

[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)

A grand event for thousands of people in China's non-ferrous metal industry

Shanghai colored net (SMM) annual meeting is the annual event of the metal industry, with an annual participation scale of thousands of people, domestic and foreign metal industry people gathered together to review and summarize the experience and harvest of the year, and lay the groundwork for the production, operation and operation of the coming year.

This year's "2019 China Nonferrous Metals Industry Annual meeting and 2020 (SMM) Metal Price Forecast Conference" was jointly created by SMM and China Renewable Resources Industry Technology Innovation Strategic Alliance and Shanghai Nonferrous Metals Industry Association. At the same time, the first "China Renewable Metals Industry chain Development Summit Forum" was held, and SMM metal price forecasting conference and waste battery recycling exchange were set up for you to enjoy. From the development of non-ferrous metal market to the recycling of renewable resources, from the detailed explanation of policies and systems to the research and development of industrial chain technology.

This is not only a meeting, but also an industry exchange of information, collision thinking sparks of brainstorming!

"Click to sign up for SMM Annual meeting

Scan QR code, apply to join SMM metal communication group, please indicate company + name + main business

 

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
Feb 7, 2026 16:41
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
Read More
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
[SMM Nickel Flash] Based on nickel ore prices from 25 days ago, smelter profits for high-grade NPI remained high this week. However, from the current raw material side, ore prices from both the Philippines and Indonesia increased, while auxiliary material prices saw a slight pullback, leading to an increase in the cash cost of producing high-grade NPI from spot ore. At the same time, high-grade NPI prices experienced some pullback, making it difficult for smelter profits to see sustained improvement.
Feb 7, 2026 16:41
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
Feb 7, 2026 16:40
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
Read More
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
[SMM Nickel Flash] This week, due to a sharp decline in futures triggering arbitrage selling, high-grade NPI prices fell significantly. However, after the selling activity subsided, upstream quotations and the market center gradually returned to normal levels, supported by cost factors. Looking ahead, as the Chinese New Year holiday approaches, market activity is expected to remain subdued, and high-grade NPI prices are projected to hover at highs with limited fluctuations.
Feb 7, 2026 16:40
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
Feb 7, 2026 16:39
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
Read More
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
[SMM Nickel Flash] The SMM average price of 10-12% high-grade NPI fell 17.2 yuan/mtu WoW to 1,035.8 yuan/mtu (ex-factory, tax included), while the Indonesia NPI FOB index average price dropped 2.06 $/mtu WoW to 131.2 $/mtu. At the beginning of the week, futures hit limit-down, and nickel prices fell sharply WoW, driving the emergence of arbitrage supplies sold at low prices, leading to a significant decline in high-grade NPI prices.
Feb 7, 2026 16:39
[SMM Nickel Morning News] Nickel in the Night period fell sharply below the 120000 mark in Shanghai Nickel. - Shanghai Metals Market (SMM)