[brief Review of SMM] Shanghai Nickel stabilizes and recovers the long decline last night and pays attention to the shock near the 10-day moving average after reducing its position last night.

SMM, 8 May:

Shanghai nickel today relatively stable trend, Shanghai nickel 2007 contract opened today at 101250 yuan / ton, early in the day Shanghai nickel around 101600 yuan / ton narrow range shock, above 101900 yuan / ton pressure, to 10:00, short positions mainly Shanghai nickel shock downward, down 100600 yuan / ton line. Then short positions followed up, Shanghai Nickel rose again, rising to 102000 yuan / ton all the way, and the pressure fell slightly at the end of the day, and finally closed at 101720 yuan / ton, down 0.13% from the settlement price of the previous day. Daytime trading volume decreased by 122000 to 290000, and daytime positions decreased by 385 to 87520. Shanghai Nickel closed at Xiaoyang column today, and there is still support at the 10-day moving average below the K-column. Pay attention to the shock above the Shanghai Nickel 10-day moving average at night.

[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]

(Zhang Lingying TEL:021-5166 6775 QQ: 1553928752)

Click to register: "2020 (Fifth) China International Nickel, Cobalt and Lithium Summit Forum"

To sign up for the Nickel Cobalt Lithium Summit or apply for entry into the SMM New Energy vehicle / Cobalt Lithium Industry Exchange Group, please scan the QR code below: