SMM, 20 April:
The Shanghai Nickel 2006 contract opened 98970 yuan / ton today. As domestic LPR 1-year and 5-year interest rates have been cut and stimulated, market sentiment has been boosted, basic metals are generally floating red, and market concerns about nickel supply side shortage have been brewing for a long time. Superimposed today's stainless steel price is strong, Shanghai nickel bulls energy has been effectively released, soon after the opening of long successive positions, break through the 60-day moving average, the rising energy is still not diminished. Shortly after the opening of the afternoon trading, it stood on 102000 yuan / ton, recovering the previous jump gap, reaching 102300 yuan / ton. Although all the bulls left the market before the close, it still closed at 102030 yuan / ton. The previous trading rose 3060 yuan / ton, up 3.09%, trading volume increased 99000 hands to 333000 hands, position volume increased 12068 hands to 123000 hands. Today, Shanghai nickel closed in the sun column, and effectively broke through the 60-day moving average resistance, has been run to the new uplink space. In the good situation of the various data, the upward momentum is more sufficient.
[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]