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[SMM Nickel Morning News] London Nickel is closed, Shanghai Nickel has a steady trend, the night market is under pressure and its 20-day moving average fluctuates within a narrow range.
May 26,2020 08:53CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, May 26th:

The market is operating smoothly for the time being, there is a shock near the Shanghai Nickel 100,000 pass, the rising water of Russian nickel spot is basically stable, the trading atmosphere is weak, the market lacks obvious price fluctuation factors, and the overall performance is weak and stable. Recent fundamentals are mainly concerned about whether the price of nickel pig iron can remain strong after the latest profits of stainless steel have narrowed, as well as the recovery of overseas consumption.

The overnight Shanghai Nickel 2007 contract opened at 100650 yuan / ton, and the night trading continued the daytime horizontal volatility situation, with a narrow range around the daily average of 100800 yuan / ton. the 20-day average above the pressure was 101000 yuan / ton, and the amplitude of Shanghai nickel gradually shrank, and finally closed at 100570 yuan / ton. compared with the settlement price of the previous day, the settlement price increased by 180 yuan / ton, or 0.18%. The turnover was 50000, and the position decreased by 791 to 69000. Overnight Shanghai Nickel closed at Xiaoyangzhu. The upper part of the K-column is faced with the pressure of the 20-day moving average and the middle rail of the Boll line.

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