Home / Metal News / Nickel / [brief Review of SMM] Shanghai Nickel closed up slightly during the day and followed up to pay attention to the wide shock of Shanghai Nickel in the middle track of Boll Line and 98000 yuan / ton range.
[brief Review of SMM] Shanghai Nickel closed up slightly during the day and followed up to pay attention to the wide shock of Shanghai Nickel in the middle track of Boll Line and 98000 yuan / ton range.
Apr 14,2020 18:21CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, 14 April:

Recently, the demand for stainless steel has picked up, the price has risen, the demand end of nickel has improved, and the support of nickel price is stronger than in the early stage. The Shanghai Nickel 2006 contract opened at 96600 yuan / ton today. At the beginning of the day, the long position was reduced, the Shanghai nickel lower was 96060 yuan / ton, the 5-day moving average was supported and rebounded, and the 96800 yuan / ton pressure fell slightly by 400 yuan / tonne. In the afternoon, the bulls increased their positions significantly, and the Shanghai nickel pulled up and broke 97000 yuan / ton pressure level to probe 97420 yuan / ton. Under pressure, the position fell again, Shanghai nickel rose at the end of the day, and finally closed at 97160 yuan / ton, up 280 yuan / ton from the settlement price of the previous trading day. Up 0.29 per cent, trading volume increased by 43000 hands to 38.39 million hands, position increased by 3472 hands to 104470 hands. Shanghai nickel closed in the small balcony today, the shadow line down 5-day moving average, the lower Boll line rail level is supported, the top is still under pressure 98000 yuan / ton pass, follow-up attention to Shanghai nickel in the Boll line middle rail and 98000 yuan / ton interval wide shock.

[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 6775 QQ: 1553 928752, contact: Zhang Lingying]

Shanghai Nickel spot
Nickel Price
SMM brief Review
Price Forecast

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